Arohan Financial Services reported a significant jump in net profit to Rs 104.08 crore in Q1 FY25, driven by strong business growth and earnings. The MFI's AUM also saw a notable increase, while net NPA remained at zero.
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Kolkata, Aug 9 (PTI) Microlender Arohan Financial Services on Friday reported an over four-time jump in its net profit to Rs 104.08 crore during the first quarter of the 2024-25 fiscal.
It was Rs 25.40 crore during the same quarter of the previous financial year, the company said in a statement.
The net profit was driven by a rise in business and earnings, it said.
Total income from operations increased 36 per cent to Rs 469 crore during the quarter under review, as against Rs 345 crore in the same quarter of the previous fiscal.
The MFI's assets under management (AUM) grew to Rs 7,062 crore in the first quarter of 2024-25, as compared to Rs 5,564 crore in Q1 of 2023-24.
Net NPA stood at zero at the end of the quarter ending June 30.
Arohan Financial Services MD Manoj Nambiar said, "Our quality-first approach has enabled us to achieve steady growth with zero net NPA. Our expansion into south India will provide us a competitive advantage," he said.
Arohan has a network of 975 branches in the country and has a customer base of 2.4 million. PTI dc
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