Kamlesh Gandhi, Founder, Chairman and Managing Director at MAS Financial Services on Thursday, November 2, discussed the company's performance in the September 2023 quarter. He emphasised that MAS Financial has prioritised asset quality over profitability. Going ahead, he said that the company is optimistic about the future, expecting growth momentum to persist at a rate of 20-25%.

Moreover, the company foresees better asset quality in the upcoming period.

" The company is observing a strong demand momentum, driven by the festive season. This indicates positive consumer sentiment and a potential boost in business," he told CNBC-TV18.

In the next five years, MAS Financial aims to diversify its asset mix, with a focus on 20-25% from housing and 30-35% from MSME (Micro, Small, and Medium Enterprises) sectors.

For the quarter, MAS Financial reported 22.39% rise in net profit to ₹61.17 crore. The company's net sales for September 2023 reached ₹310.37 crore, marking an increase of 29.26% compared to the same period in 2022. The company's EBITDA for September 2023 was ₹237.20 crore, displaying growth of 28.82% compared to the same quarter in 2022.

The company's EPS increased to ₹11.19 in September 2023 from ₹9.14 in September 2022.

(Edited by : Anshul)

First Published:Nov 2, 2023 12:57 PM IST