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Informist, Friday, May 16, 2025

--Sammaan Capital Jan-Mar consol PAT INR 3.24 bln vs INR 3.19 bln year ago

--Sammaan Capital Jan-Mar consol revenue INR 21.07 bln vs INR 22.05 bln

--Sammaan Capital FY25 consol loss INR 18.07 bln vs INR 12.14 bln PAT yr ago

--Sammaan Capital FY25 consol revenue INR 86.23 bln vs INR 84.75 bln year ago

By Aaryan Khanna

NEW DELHI – Sammaan Capital Ltd.'s consolidated net profit for the March quarter was marginally higher on year, with both revenue and expenses shrinking from the year-ago period. The company's assets under management were also down year-on-year, largely due to a contraction in its provision-laden legacy book.

The lender reported a net profit of INR 3.24 billion in Jan-Mar, up from INR 3.19 billion a year ago. Its total revenue from operations shrank 4.4% on year of INR 21.07 billion, while expenses shrank 8% to INR 16.77 billion. With finance costs in check, the net interest income rose to INR 10.82 billion from INR 9.64 billion a year ago. However, employee costs and other expenses rose sharply and ate into the bottom line growth.

"The interest income for the quarter and year ended March 31, 2025 includes notable amount of overdue interest recovered from written off / NPA (non-performing asset) customers," Sammaan Capital said in notes to its accounts. The company declared its earnings during market hours. Sammaan Capital's shared ended 0.5% lower at INR 125.20 on the National Stock Exchange Friday.

The top line was hurt by a fall in the net gain on fair value changes, which fell over 30% on year to INR 3.82 billion. However, the company reported a gain on direct assignment of loans of INR 4.03 billion in the reporting quarter. This was accounted as a net gain on derecognition of financial instruments under amortised cost category of INR 1.92 billion, up from INR 252 million a year ago.

For the financial year 2024-25 (Apr-Mar), Sammaan Capital posted a consolidated net loss of INR 18.07 billion against a profit of INR 12.14 billion the previous year. Formerly called Indiabulls Housing Finance Ltd., the company had posted a net loss of INR 27.61 billion in the September quarter, which dragged down its annual performance. Revenue grew marginally in FY25 to INR 86.23 billion.

The company's total assets under management were down nearly 5% on year at INR 623.46 billion as on Mar. 31. Of this, the fresh or growth AUM surged over 41% on year to INR 374.52 billion. Meanwhile, the legacy loanbook – which consists of assets managed from discontinued business – shrank by around INR 140 billion in the financial year to INR 248.94 billion at the end of March, with an imputed provision buffer one-third its size of INR 83.35 billion. From around 40% of the total AUM at FY25-end, Sammaan Capital plans to push it down to single-digit percentage of the assets under management by FY27, it said in its investor presentation.

Asset quality also improved from a year ago. The gross non-performing ratio more than halved to 1.3% at March-end from a year ago and the net NPA ratio improved to 0.8% as on Mar. 31 from 1.5% a year ago. These are the lowest levels of gross and net NPAs in five years, the company said.  End

Edited by Ashish Shirke

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