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Kotak Bank: Would you open account?

Mar 27, 2003

Kotak Mahindra Finance (KMFL), the NBFC, is all set to convert itself into a bank by the end of this month. The company started operations in 1985 as a car financer and since then has come a long way. We look at the strengths of KMFL and the reasons behind this move.

Tata Finance: Marginal improvement

Sep 4, 2002

Tata Finance has reduced its operating losses in the June quarter of FY03, on the back of a sharp decline in interest cost. The company's income from operations registered a strong rise of 27% for the first quarter supported by over three fold rise in hire purchase income (67% of total income).

Sundaram Fin: Looking for growth

Aug 23, 2002

Sundaram Finance (SFL) has reported a marginal improvement in financial performance for the quarter ended June 2002. The company's net interest income was flat for the first quarter compared to a 32% dip for the full year ended March 2002. SFL's net profits for the quarter grew by 3% due to lower tax provisions.

KMFL: In transformation phase

Aug 19, 2002

Kotak Mahindra Finance (KMFL) has shown a sharp turnaround in its first quarter interest income, which rose by 16%. Its profits were however, depressed due to a steep decline in operating margins. The company is in the process of converting itself into a bank and aims to start operations as a bank in November 2002.

Tata Finance: Niskalp effect

Jul 5, 2002

Tata Finance' losses increased sharply in the March quarter on account of a steep decline in income from operations and higher borrowing cost. For the year ended March 2002, Tata Finance provided Rs 396 m as deferred tax asset which cut down its losses. The company shifted its financial year end to March from June. Consequently, we have compared the nine months performance of the company for analysis purpose.

Sundaram Finance: Challenges ahead

Jun 10, 2002

Sundaram Finance (SFL) has reported a steep 12% decline in full year revenues and a 36% drop in fourth quarter topline. However, excluding the amount of Rs 863 m, which was included in the previous year's income on account of a change in method of income recognition, total income in FY02 was higher by 6%. Consequently, financial performance of the company in FY02 is not strictly comparable.

KMFL: Competition hits growth

May 13, 2002

Kotak Mahindra Finance (KMFL) continued to report decline in income from operations in the fourth quarter. However, lower provisions and interest cost saved the day for the company with a 55% rise in earnings. Increasing competition from banks in personal finance business impacted the company's revenue growth during the year.

Tata Finance: Business under pressure

Feb 25, 2002

Tata Finance continued to report loss in the second quarter ended December 2001. Cumulative losses of the company stood at Rs 730 m for the first half of FY02. The company's business has been severely impacted after the fiasco of its wholly owned subsidiary Niskalp Investments. This is reflected from a 21% drop in Tata Finance' income from operations.

KMFL: Strong operating performance

Feb 18, 2002

Kotak Mahindra Finance (KMFL) managed to curtail decline in income from operations in the December '01 quarter. From a 15% fall in topline in the September quarter, the company's income from operations in the third quarter declined by 5%. Reduction in operating costs and lower interest expenses enabled the company in trimming the fall in net income during the first nine months of FY02.

Sundaram Finance: Nothing new

Dec 19, 2001

Sundaram Finance (SFL) continues to take a hit on its bottomline. After having reported a 15% fall in the first quarter earnings, the company's profits in the second quarter dropped by 21%. Its topline too remained flat. Tough economic environment has severely impacted the company's first half performance.

KMFL: Signs of improvement

Nov 23, 2001

Kotak Mahindra Finance Limited (KMFL) managed to trim the drop in earnings by cost cutting measures. The company reported a 19% fall in FY01 profits on the back of a 23% decline in income from operations.

Tata Finance: Tough road ahead

Nov 12, 2001

Tata Finance for the first time in past several quarters posed a loss of Rs 173 m for the first quarter ended September 2001. The company's reputation in the past few months was impacted severely after the fiasco of its wholly owned subsidiary Niskalp Investments. A hole in the company's image has dragged down its business.

Tata Finance: Mounting losses

Aug 20, 2001

The fiasco of Tata Finance’ (TFL) wholly owned subsidiary, Niskalp Investments has dragged down the stock price of TFL along with the company’s image. We had earlier written an article on this matter. We update the investors about the latest happenings in the company.

KMFL's dismal performance in 1Q

Aug 14, 2001

Kotak Mahindra Finance Limited (KMFL) reported dismal performance in the June quarter. The company's earnings dropped by 9% on the back of a 157% jump in provisions for non-performing assets (NPAs). Topline growth of KMFL was a marginal 7%. Nevertheless, it was better than a 22% fall in FY01 revenues.

The Tata Finance fiasco

Aug 7, 2001

Tata Finance has reported a lacklustre financial performance for the March quarter. The company’s earnings dropped by a significant 77%, due to an 89% decline in other income. A substantial reduction in dividend from subsidiaries was responsible for lower other income.

Sundaram Finance: 1Q profits dip by 15%

Aug 1, 2001

Sundaram Finance (SFL) has posted a 15% fall in earnings for the June quarter. The company's topline too grew by a marginal 5%.

Tata Finance 3Q profits down 77%

Jul 4, 2001

Tata Finance reported a drop of 77% in profits for the third quarter ended March '01. This was largely due to a 89% decline in other income and 52% rise in depreciation charge.

Competition hits KMFL's FY01 profits

Jul 2, 2001

Kotak Mahindra Finance Limited (KMFL) has clocked a 19% drop in FY01 profits on the back of a 23% decline in income from operations. Subdued topline growth indicates strong competition from banking companies and financial institutions, which have also entered into car financing and personal finance segments.

Sundaram Finance: Outstanding results

Jun 26, 2001

Sundaram Finance (SFL) has beaten the industry trend by declaring a 37% jump in net profits for the year ended March '01. The company's topline too grew by about 16%. The company has recorded positive growth inprofits after an interval of two years. In FY99 and FY00, its earnings declined by 17% and 19% respectively.

"Our subsidiaries are expected to account for major part of revenues in the next 3 years."

Jun 2, 2001

In an interview with Equitymaster.com Mr. Gupta spoke of the trend in the non-banking finance sector (NBFC) and the management's future business plans for the company.


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