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The non-bank lender’s profit after tax rose 405.2% year-on-year in the quarter ended September 30, from Rs 74 crore a year earlier. Profit increased 21.8% from Rs 308 crore in the preceding quarter. Net interest income, including fees and other income, climbed 75.6% year-on-year to Rs 1,589 crore. Cross-sell income rose to Rs 118 crore from Rs 68 crore, while servicing income increased to Rs 91 crore from Rs 37 crore. Assets under management rose 55% year-on-year to Rs 74,008 crore. New products, including prime personal loans, gold loans, education loans, consumer durable loans, commercial vehicle loans and shopkeeper loans, accounted for 28% of second-quarter disbursements. The newer businesses disbursed more than Rs 4,400 crore during the quarter. Speaking to analysts, Managing Director and Chief Executive Officer Arvind Kapil said growth was being accompanied by margin expansion. He said yields on new disbursements expanded by about 20 basis points in the second quarter, following an increase of about 50 basis points in the preceding quarter. Higher yields on earlier disbursements were also flowing through to the overall portfolio, he said. Kapil also highlighted the expansion of the commercial vehicle business to more than 1,250 channel partners, the strengthening of education-loan origination through an instant-sanction platform and the scaling of the consumer durable network to 20,000 dealers across 360 locations. The company’s gross non-performing asset ratio improved to 1.20% from 1.59% a year earlier. The lender’s capital adequacy ratio stood at 18.68%, while total borrowings were Rs 58,865 crore. Its cost of borrowing increased to 7.76% from 7.69% a year earlier (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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