Standalone Q2 PAT up 73 percent; MTN programme expanded to USD 3 billion
TATACAP · price
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On the reaction day the stock moved 2.2 pts more than Nifty 100 and 2.0 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Standalone Q2 revenue from operations rose 20.2 percent to Rs 6,710.47 crore and PAT rose 73.1 percent to Rs 1,143.26 crore. H1 PAT rose 74.4 percent to Rs 2,142.70 crore. Net operating cash outflow was Rs 20,172.80 crore, mainly due to a Rs 23,180.04 crore increase in loans. Gross NPAs improved to 2.40 percent from 2.89 percent. Auditors issued an unmodified review. The board expanded the MTN programme from USD 2 billion to USD 3 billion.
Profit growth and lower gross NPAs support sentiment, but the larger debt programme and cash used to grow loans raise funding and leverage risks.