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Prabhudas Lilladher Report
Greenshoots are clearly visible in the non banking financial company space as disbursements and collections pace up closer to pre-Covid-19 levels and risk aversion and funding challenges subside.
Higher single digit assets under management growth, strengthening pre-provision operating profit and reduced incremental credit costs sum up Q4 FY21 earnings expectations.
However, micro small and medium enterprise restructuring and Emergency Credit Line Guarantee Scheme schemes would limit reported gross non-performing asset for Q4 FY21.
While these regulatory dispensations have been masking true asset quality picture, Q4 FY22 should provide clarity on ultimate credit loss.
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