On 13 October 2022, MAS financial services allotted Rs 55 crore via commercial papers (CP) issuance. The instrument, offering an interest rate of 7.80 per cent, will mature on the last day of October and is also rated CARE A1+.

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The company has a Gujarat-headquartered Non-Banking Financial Corporation (NBFC) with more than two decades of business operations. The business and financing products of the company are primarily focused on middle and lower-income customer segments spread across the formal and informal sectors and semi-urban and rural areas.

On a consolidated basis, the company’s net profit rose 25.5 per cent to Rs 45.95 crore on a 31.4 per cent increase in total income to Rs 205.70 crore in the first quarter of FY23 over the first quarter of FY22. Meanwhile, MAS Financial Services shares were up 0.15 per cent at Rs 755.35 in Yesterday’s trade.