Icra cuts Janalakshmi Financial's outlook to negative

Rating agency Icra today cut the long term rating outlook of Janalakshmi Financial Services to negative from stable due to deterioration of its collection efficiency after demonetisation.

Rating agency Icra today cut the long term rating outlook of Janalakshmi Financial Services to negative from stable due to deterioration of its collection efficiency after demonetisation.

It reaffirmed the A+ rating for the Rs 1,300 crore long term bank facilities, Rs 3,966 crore non-convertible debenture programme and Rs 751 crore subordinated debt programme of the

microfinancier.

The rating agency also reaffirmed the rating of A1+ to the Rs 900 crore commercial paper programme of the company.

"The revision in outlook factors in the adverse impact of demonetisation on JFSL s asset quality with overall collections efficiency affected by the limited currency supply, disruption in

borrower cash flows, and political intervention in certain states namely, Uttar Pradesh, Maharashtra and Madhya Pradesh," the rating agency said in a note today.

The company s collection efficiency dipped from about 98 per cent in September 2016 to 78 per cent in January 2017.

Consequently, it's 30+ dpd (days past due) and 60+ dpd increased from 1 per cent and 0.7 per cent respectively as on September 30, 2016 to 12.9 per cent and 1.3 per cent as on December 31,

2016 and further to 22.6 per cent and 11 per cent as on January 31, 2017.

It said while some states, namely Uttar Pradesh and Rajasthan, witnessed a marginal reduction in overdues post December 2016, Tamil Nadu and West Bengal, which constituted 25.2 per cent of

the total portfolio as on January 31, 2017 registered a sharp decline in collection efficiency post December 2016.

Icra said the company may have to provide for loan losses for some of the delinquent loans, which would exert pressure on the capitalisation and profitability in the near term.

The extent of the impact on the company s overall credit risk profile would be a key rating consideration in the near term, it said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)

Apple launches iOS 26, boosts iPhone experience: 5 things to know

WWDC 2025: Apple unveils new software design 'Liquid Glass' for iOS, macOS and others; check here

Director Manish Gupta denies allegations of stabbing driver: 'This is an extortion racket'

Gurdas Maan's younger brother Gurpanth Maan dies after brief illness in Mohali

Meet man who started working at 14 as vegetable cutter, later opened restaurant in US, now he’s famous for his...

Aamir Khan addresses 23 year age gap with Genelia D'Souza in Sitaare Zameen Par: 'That thought did come to me but...'

SSC CGL Notification 2025 Out: Check dates, posts, eligibility, direct link and more

MS Dhoni fans on cloud nine as ICC inducts him in 2025 Hall of Fame: Check full list of inductees

Elon Musk's Starlink required to share users' data with Indian govt after concerns of...; info will include

Meet Muslim actress, who married Hindu producer, follows both Hinduism and Islam, flopped in Bollywood, name is...

Days after Operation Sindoor, Pakistan plans to buy J-35 5th-gen fighter jets from...; not US, Russia, Turkey, it is...

Steve Jobs taught Apple CEO Tim Cook a skill that few people have: ‘Never get...’

Meet India's youngest CEO, who started coding at 5, developed 1st app at 9, later started his company at 13, now he runs...

Axiom-4 mission launch postponed again due to...; new liftoff now scheduled for...

Fatwa was issued against writer Salman Rushdie, now Iranian rapper faces death sentence for...

Bengaluru shocker: Techie stabs 36-year-old married girlfriend 17 times, arrested

Infosys' Narayana Murthy, Sudha Murty, Zerodha's Nikhil Kamath own flat in this luxurious tower, check it's Vijay Mallya connection, it is worth Rs...

Viral Video: Indian student pinned to ground, handcuffed, deported from US

Iran extends ban on walking dogs in public, violators to be punished by...

Axiom-4 mission: Indian astronaut Shubhanshu Shukla completes final launch drill, calls Ax-4 journey 'much larger than...'

Khushi Kapoor-Vedang Raina's intense conversation caught on camera, netizens slam paps for privacy intrusion: 'Give them...'

Al Pacino reveals he declined Star Wars film due to this shocking reason: 'They offered me a fortune but...'

Meghalaya honeymoon murder: What is Raghuwanshi App, through which Raja and Sonam met?

Fedlan Kılıçaslan on Tariffs: The Painful Reset Reshaping the Global Economy By Andrzej Kozioł

Elvish Yadav cuts ties with Prince Narula after bitter feud on Roadies XX: 'Don't want to talk to him in future'

World’s richest dog, who travels the world, 27 employees work for him, had mansion bought from popstar, not Mukesh Ambani, Nita Ambani's pet dog, net worth is Rs...

Amitabh Bachchan shuts down trolls asking him to sleep on time, saying 'umar ho gayi aapki': 'Mere maran ki...'

Rupali Ganguly slams those who kept mum during Operation Sindoor: 'If you haven’t...'

Cosmic kiss: Moon to meet these planets in rare conjunctions in June with stellar night sky views, know when, where, how to see

Made in Rs 35 crore, this Ranbir Kapoor film earned Rs 175 crore, was accused of plagiarism, sent as India's entry to Oscars but...

The Science Behind Pinnacle AbilityScore: India’s Patented 0–1000 Universal Child Development Metric Transforming Autism, Speech, ABA, Occupational & Developmental Therapies Worldwide!

Elon Musk-owned Starlink to start service in India in..., you will have to pay every month...

OYO founder Ritesh Agarwal seeks public help for THIS small task, offers Rs 3 lakh prize

China's 'water bomb' tickling, India faces catastrophe in 'water war' with Beijing, details here

Testosterone Cypionate FAQ, Uses, Benefits, and Where to Buy

Who is Sashidhar Jagdishan? He leads India's largest private bank worth Rs 1515854 crore, now facing financial fraud allegations

Narayana's Relentless Triumph: Fulfilling JEE Dreams in JEE Advance 2025 exams

SSC CGL 2025 Notification to be released today at ssc.gov.in: Registration to begin...; exams from THIS date

These Indian breakfast dishes ranked among world's best, not samosa, dosa, idli, these are...

Mukesh Ambani gets richer by Rs 30786 crore after Reliance earns Rs...; net worth climbed to...

Ravichandran Ashwin loses his cool at female umpire, slams bat after being given LBW in TNPL 2025 | Watch viral video

Amid job cuts, THIS company freezes 2025 hiring budget for..., not Google, Infosys, Wipro, it is...

Jamsetji Tata donated land for this institute, which started with just 24 students, CV Raman was one of directors, it is...

Thug Life box office collection day 4: Kamal Haasan, Mani Ratnam film drops further, earns just Rs 37 crore in opening weekend

BCCI announces BIG change in venues for Team India's home series against South Africa, West Indies: See updated schedule

Big move by Sunil Mittal as Bharti Airtel inks multi-year pact with this Swedish firm for...

India records sharp decline in poverty, Pakistan continues to..., number of poor population...

42% of Pakistanis live in abject poverty, more may become poor if India continues with decision on Indus Waters Treaty

Cristiano Ronaldo drops major hint on his future after leading Portugal to 2nd UEFA Nations League title, confirms he will play at...

Another masterstroke by Anil Ambani, set to enter this sector, to target Rs 5000 crore market, it is..., aims to...

Partho Ghosh, director of Agni Sakshi, dies of heart attack at 75

SSC GD Constable 2025: When and where to download Constable merit list online, details here

Ektaa Kapoor calls Anurag Kashyap 'dumb' after he mocks saas-bahu dramas: 'You are so...'

Protest in Los Angeles: How many illegal migrants live in US? How many of them are Indians?

'Selfie yacht of 'celebrities' safely making its way to shores of Israel': IDF intercepts boat carrying Swedish climate activist Greta Thunberg on its way to Gaza

'There are 3...': Paresh Rawal reacts after fans requests him to return to Akshay Kumar's Hera Pheri 3

Who is Rima Hassan? French-Palestinian MP accompanying Greta Thunberg on Gaza-bound ship intercepted by Israel, was born in this Muslim country...

UPSC CSE Prelims Result 2025 to be declared soon at upsc.gov.in, Know when, where to download scorecards online

This Muslim country has banned people from walking dogs in public, reason will leave you shocked, not Pakistan, Afghanistan, Bangladesh, UAE, Saudi Arabia, Indonesia, it is...

This is world's largest container ship, arrives at THIS seaport, managed by Indian billionaire whose net worth is Rs 5792310450, not located in US, Russia, China

Navjot Singh Sidhu returns to The Great Indian Kapil Show, Archana Puran Singh reacts: 'I’m coming home...'

Heatwave alert issued in Delhi-NCR, IMD predicts temperature will rise by..., in the next...

Apple Event 2025: Check when and where to watch Apple WWDC 2025 keynote in India, USA, Dubai

This Indian genius who worked with IIT, NASA, challenged Einstein's Theory, went missing for years, he died...

Indore honeymoon murder case: Who is Raj Kushwaha, Sonam Raghuvanshi's 'boyfriend', alleged mastermind behind Raja Raghuvanshi's murder in Meghalaya, shocking details reveal...

Indore couple case: Raja Raghuvansi's wife Sonam was found at Varanasi-Ghazipur main road, says UP Police

Gautam Adani draws less salary than his executives, know who tops the list; where do Mukesh Ambani, Sunil Bharti Mittal stand

Mumbai Train Accident: Several passengers travelling towards CSMT fall from excessive crowded train at Mumbra Station

Amid Russia-Ukraine war, this European country is preparing for big conflict, revamps bunkers, tunnels, not UK, France, Portugal, Spain, it is...

Elon Musk's father Errol Musk says son 'made a mistake' opposing US President Donald Trump, blames...

Housefull 5 box office collection day 3: Akshay Kumar-starrer stays strong, to soon enter Rs 100-crore club

Meet woman whose mother was insulted during bus ride, to teach a lesson, she cracked UPSC to become IPS officer, her rank is..., she is...

Weeks after India-Pakistan conflict, tensions rise between these two Asian nations, both maintain strong ties with China, dispute started due to...

Authorities crack down on Boss IPTV and affiliate illegal IPTV Services: Users warned of criminal charges and deportation risks

Honey Singh takes a dig at Badshah after his 'make babies' with Dua Lipa comment: 'Geni...'

Man finds his father’s JSW Steel shares from 90s worth Rs 1 lakh, it's current value will leave you in shock

Who is IAS Dhiman Chakma, arrested for taking Rs 10 lakh bribe from businessman?

Rani Mukerji says she didn’t find Anushka Sharma 'extremely pretty' or 'stunning', fans react: Watch

Bad news for Pakistan, China, Indian Air Force to get Rs 10000 crore indigenous I-STAR spy planes, will be capable of...

Vijay Mallya once romanced with 23-years-younger air hostess, he met his first wife on..., his second wife was..., here's all you need to know about former RCB owner's love life

Meet man, who scored 44% in class 10th, 65% in class 12th, failed 10 times, later cracked UPSC exam with AIR..., he is now...

Good news for Indians, after Thailand, Philippines, Maldives, Malaysia, this nation opens doors to travellers with 30-day visa-free entry, it is...

'Order will be restored', says Donald Trump as National Guard storms Los Angeles amid protests over immigration raids

Viral Video: Akshay Kumar goes undercover in mask to secretly take audience reviews for Housefull 4

This Indian-origin man has been arrested in Rs 1244 crore US healthcare fraud case, read details inside

Meet woman who finished BTech with distinction, later cleared UPSC Exam to become IPS officer, now making headlines after busting...

Viral Video: Little boy's adorable dance to 'Yeh Ladka Hai Deewana' with his maasi wins hearts, netizens think it's 'too cute to handle', WATCH

Meet Anisha, Suyash Saraf, couple who created one of India's top skincare brands, earned revenue worth...

Mukesh Ambani and Nita Ambani’s daughter Isha Ambani did her first job with THIS company, not Reliance, her salary was Rs…

TNPL 2025: R Ashwin fumes after given out LBW, engages in heated conversation with female umpire - Watch

'Could have excelled if....': Cheteshwar Pujara hits back at red-ball specialist tag, laments lack of ODI exposure

Bride in this country gets 100 civet cats as dowry; they are used to make...; priced at whopping Rs...

Kareena Kapoor reveals her new routine:'Dinner by 6 pm, lights out by 9.30 pm'

Soundarya Sharma reacts to Housefull 5's success, shares Akshay Kumar's 'crucial advice' for her: 'He knows the challenges...' | Exclusive

How much salary did Gautam Adani draw this year? Here's how it compares with Mukesh Ambani, Sunil Mittal, Rajiv Bajaj, others

23-year-old model dies by suicide in Surat, wrote in last Instagram post, 'it doesn't matter if...'

Home Minister Amit Shah makes BIG statement, says BJP-led NDA will form governments in...

Housefull 5 box office collection day 3: Akshay Kumar's ensemble laugh riot performs strong on Sunday, crosses Rs 100-crore mark worldwide, earns..