Tata Capital Q2 net profit rises 51% on higher income

What happened: Tata Capital reported a 51% rise in Q2 net profit on higher income, with assets under management up 26% as of September 30. Key numbers: AUM Rs 3.08 lakh crore, up 26%. Retail portfolio Rs 1.51 lakh crore. Small business loans Rs 88,500 crore. Why it matters: The lender will raise floating-rate loan rates from November 1 after the repo rate increase, which could push up borrowing costs. Management said NIMs moderated in Q2 but should improve in Q3 and Q4, and that it is evaluating alternative products amid RBI proposed curbs on revolving credit. Coverage: 3 outlets in 24h

Tata Capital reported a 51% rise in Q2 net profit on higher income, with assets under management up 26% as of September 30.

The lender will raise floating-rate loan rates from November 1 after the repo rate increase, which could push up borrowing costs. Management said NIMs moderated in Q2 but should improve in Q3 and Q4, and that it is evaluating alternative products amid RBI proposed curbs on revolving credit.