Fullerton India posts 25% rise in Q1 revenue

The company's revenues for the quarter ended June 30, 2012 were Rs 263 crore as against Rs 210 crores for the quarter ended June 30, 2011.

By OUR BUREAU | Updated: Jul 25, 2012, 04.17 PM IST

New Delhi: Fullerton India Credit Company Ltd has reported a strong quarter of financial performance, with a significantly improved profit after tax (PAT) of Rs 28 crore for the quarter ended June 30, 2012 (unaudited).

The company’s revenues for the quarter ended June 30, 2012 were Rs 263 crore as against Rs 210 crores for the quarter ended June 30, 2011, which is 25% higher than that in the corresponding quarter of the previous year. Assets under management grew by 30% to Rs 4,176 crore during this period.

Said Shantanu Mitra, managing director and CEO, “We realise the immense potential in the Indian retail market and the demand for financial products and services in the various segments we cater to. We have aligned our strategy to include more secured products, diversified and customised financial solutions in the segments we serve. We are also widening our reach, particularly in rural India, by adding branches in under banked geographies”.

Fullerton India’s CSR programme that focuses on rural livelihood advancement initiatives has made far reaching impact in the rural catchments. Last year alone, the company conducted over 500 livelihood workshops benefitting over 22,000 rural households.

Fullerton India Credit Company Ltd is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.

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