Morarka Finance Limited has reported a robust financial performance for the second quarter, with significant growth in both revenue and profitability. The company's unaudited financial results, adopted by the board on October 15, showcase a remarkable improvement in key financial metrics.

Financial Highlights

Revenue Breakdown

The company's total revenue from operations for the current Q2 stood at ₹161.64 lakhs, marking a 36.1% increase from ₹118.73 lakhs in the same quarter last year. This growth was primarily driven by:

1. Dividend Income: A substantial rise to ₹135.81 lakhs from ₹29.50 lakhs in the previous Q2, representing a 360% year-over-year increase.
2. Interest Income: Decreased slightly to ₹7.53 lakhs from ₹9.71 lakhs in the previous year.
3. Fees and Commission Income: Remained stable at ₹9.75 lakhs.
4. Rental Income: Consistent at ₹3.88 lakhs.

Profitability

Morarka Finance's net profit for the quarter surged to ₹112.06 lakhs, a 105.8% increase from ₹54.46 lakhs in the previous Q2. This significant growth in profitability can be attributed to:

1. Strong growth in dividend income
2. Effective cost management, with total expenses increasing only marginally

Half-Year Performance

For the six-month period ended September 30:

• Net profit reached ₹126.02 lakhs, compared to ₹218.40 lakhs in the prior year.
• Total revenue from operations stood at ₹191.11 lakhs, slightly lower than ₹199.78 lakhs in the previous year.

Balance Sheet Highlights

As of September 30:

• Total assets stood at ₹10,827.22 lakhs
• Investments were valued at ₹10,709.15 lakhs
• Total equity amounted to ₹10,695.54 lakhs

Conclusion

Morarka Finance Limited has demonstrated a strong financial performance in the current quarter, with substantial growth in both revenue and profitability. The company's ability to significantly increase its dividend income while maintaining stable operations in other areas reflects positively on its investment strategies and overall financial management.

Investors and stakeholders may find these results encouraging. However, it's important to note that past performance does not guarantee future results, and investors should conduct their own research and consider their financial goals before making investment decisions.

Morarka Finance Limited, a non-banking financial company (NBFC), has announced a significant regulatory update. The company has successfully obtained a fresh Certificate of Registration (CoR) from the Reserve Bank of India (RBI), marking its transition from an NBFC Type-II to an NBFC Type-I entity.

Key Developments

• Regulatory Approval: Morarka Finance received approval from the RBI on August 21 for the conversion of its registration status.
• Certificate Issuance: The revised CoR, dated September 22, was issued by the RBI, reflecting the change in the company's classification.
• Collection of Certificate: The company collected the fresh CoR on September 23, as per RBI instructions.

Implications and Impact

Morarka Finance has assured stakeholders that this regulatory reclassification does not have any material impact on its day-to-day operations or financial position. The company remains committed to maintaining compliance with all applicable rules and regulations.

Regulatory Compliance

In adherence to regulatory requirements, Morarka Finance has duly informed the BSE Limited about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company Details

Morarka Finance Limited is listed on the BSE. The company's registered office is located at 511, Maker Chambers V, 221, Nariman Point, Mumbai – 400 021.

This regulatory update underscores Morarka Finance's commitment to transparency and compliance in its operations as an NBFC in the Indian financial sector.