MAS Financial Services Reports PAT of Over ₹250 Crore in FY 2024

On April 24, 2024, MAS Financial Services released its financial results for the financial year 2024. The company reported a robust financial performance, where the consolidated AUM of MAS Financial Services crossed ₹10,700 crore in Q4 2024 and reported Profit After Tax (PAT) of more than ₹250 crore in FY 2024.

The company stated that it witnessed healthy growth in business activities across the segments we serve during Q4 2024. The consolidated disbursement was ₹2,866.35 crore during the quarter ended March 31, 2024. During the same quarter, the company’s Long Term Bank Facilities and Non-Convertible Debentures rating was upgraded to CARE AA- (Outlook: Stable) from CARE A+ (Outlook: Positive) by CARE Ratings Limited.

MAS Financial Services Limited, on a consolidated basis, reported Assets under Management (AUM) of ₹10,721.90 crores and Profit after Tax of ₹70.10 crore for the quarter ended March 31, 2024, from ₹8,505.89 crore and ₹56.82 crore, respectively, for the quarter ended March 31, 2023. The consolidated PAT for the FY 2023-24 stands at ₹254.01 crore.

In the case of Standalone results, MAS Financial Services Limited reports Assets under Management of ₹10,125.61 crore and Profit after Tax of ₹68.05 crore for the quarter ended March 31, 2024 from ₹8,092.56 crore and ₹55.55 crore, respectively for the quarter ended March 31, 2023. MAS Financial Services Limited reported a growth of 25.12% in AUM and 22.50% in PAT over the corresponding period of the previous year. The AUM as of December 31, 2023, was ₹9,672.03 crore.

In FY 2024, the MSME segment contributed approximately 60% to the YoY AUM growth of the company, while other products, such as two-wheeler loans, commercial vehicle loans and salaried personal loans, also contribute meaningfully.

The company stated that the standalone performance of MAS Rural Housing and Mortgage Finance Limited reported Assets under Management of ₹596.29 crore and Profit after Tax of ₹2.08 crore for the quarter ended March 31, 2024, from ₹413.34 crores and ₹1.37 crore, respectively for the quarter ended March 31, 2023. Overall, MAS Rural Housing and Mortgage Finance Limited reported a growth of 44.26% in AUM and 51.55% in PAT over the corresponding period of the previous year.

Commenting on the financial results, the Founder, Chairman and Managing Director of MAS Financial Services, Mr Kamlesh Gandhi, said, “As we usher into the next phase, post reaching an important milestone of ₹10,000 crore in AUM, we are confident to maintain fundamentally strong growth momentum. Adequate capitalisation, strong asset quality and a track record of more than 25 years to navigate across various cycles will ensure the same, thus creating value on a large scale for all its stakeholders. Team MAS remains committed to its mission of excellence through endeavours.”

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