Calcutta, July 2: Magma Shrachi Finance Ltd, the city-based financial services company, has reported a 67 per cent growth in disbursement in the first quarter of this fiscal.

Chairman and managing director Sanjay Chamria said the performance came on the back of a merger between Magma Leasing and Shrachi Infrastructure last year.

“Although the companies are yet to be fully integrated, we have benefited from the merger. It is reflected in the disbursement numbers,which are comparable with the same period last year,” he said at a press meet in the city today.

Shrachi has a strong network in the southern and western markets where Magma lagged. On the other hand, Magma had more financial products than Shrachi.

“We are rolling out Magma products to the branches Shrachi had in south and west India,” Ravi Todi, joint managing director of Magma Leasing, added.

Commercial vehicles constitutes the largest part of Magma Shrachi’s disbursement portfolio.