The impairment on financial instruments was Rs 842.7 crore in the first quarter ended June 2020 as against Rs 619.6 crore in Q1FY20.
Its gross non-performing assets
(NPAs) stood at 9.19 per cent at the end of June 2020 as against 8.17 per cent during the corresponding period last year. The net NPAs
declined at 5.72 per cent on June 30, 2020 from 6.27 per cent in the corresponding period last year. The provisioning coverage ratio improved to 40.1 per cent as against 24.9 per cent a year ago.
The standalone assets under management
(AUM) rose 14 per cent Rs 81,436 crore as on June 30, 2020, from Rs 71,406 crore in Q1FY20. The Total value of assets financed for the quarter ended June 30, 2020, was Rs 3,489 crore.
The company has maintained market share in its lead products, but with declining vehicle sales post lockdown, the disbursements have been lower.
After a few months of disruption, markets are now embarking on a new beginning to grow in a post-pandemic environment. The company is now witnessing collections moving at a much faster pace from mid-June 2020 onwards, with many of the customers who have availed moratorium, paying their installments ahead of their due dates. “During this quarter we have seen around 40 per cent of moratorium availed customers repaying installments”, company said.