Net profit of Arman Financial Services declined 46.94% to Rs 3.81 crore in the quarter ended March 2020 as against Rs 7.18 crore during the previous quarter ended March 2019. Sales rose 34.33% to Rs 54.82 crore in the quarter ended March 2020 as against Rs 40.81 crore during the previous quarter ended March 2019.

For the full year,net profit rose 57.09% to Rs 41.52 crore in the year ended March 2020 as against Rs 26.43 crore during the previous year ended March 2019. Sales rose 52.26% to Rs 211.51 crore in the year ended March 2020 as against Rs 138.91 crore during the previous year ended March 2019.

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Arman Financial Services announced that its wholly-owned subsidiary Namra Finance which manages the microfinance business of the group, raised Rs 66.3 crores of debt capital from MUDRA, and the IIV Mikrofinanzfonds, Germany (external commercial borrowing).

Highlights of the Borrowing Transactions:

1. Borrowed Rs 25 crore from MUDRA at a 6.4% rate of interest, on 17 March, 2020. (Tenure: 2 years)

2. Raised external commercial borrowing (ECB) of ₹ 41.3 Crores, from IIV Mikrofinanzfonds, Germany at a 12.0% rate of interest (inclusive of hedging cost), on 16 March, 2020. This loan is fully hedged, and has a tenure of 3 years with a bullet repayment structure.

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Net profit of Arman Financial Services rose 88.07% to Rs 13.56 crore in the quarter ended December 2019 as against Rs 7.21 crore during the previous quarter ended December 2018. Sales rose 49.88% to Rs 56.70 crore in the quarter ended December 2019 as against Rs 37.83 crore during the previous quarter ended December 2018.

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Arman Financial Services will hold a meeting of the Board of Directors of the Company on 11 February 2020.

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