GTF net profit up by 155 pc

Mumbai, May 19: Global Trade Finance Limited (GTF), a leading standalone factoring company, has reported a 155 per cent jump in its net profit at Rs 73.6 crore, for the financial year ended March 31, 2008, as against Rs 28.9 crore, a year before.

The Non-Banking Finance Company (NBFC), which is into trade financing in the Business-to-Business (B2B) segment, has registered a turnover growth of 79 per cent at Rs 11,124 crore in FY08, as against Rs 6,214 crore in FY07, while factored assets outstanding grew by 83 per cent at Rs 3,196 crore against Rs 1,750 crore for the same period, a GTF release said here today.

The Company continues to maintain net non-performing assets (NPAs) at zero levels, indicating proper due diligence and active debt management, the release added.

UNI