Arohan Financial Services reported a massive 377% jump in net profit to Rs 103.16 crore in Q4 FY24, driven by strong loan portfolio growth and zero net NPA. Revenue also grew significantly.
Kolkata, May 31 (PTI) Microlender Arohan Financial Services on Friday said its net profit jumped by a whopping 377 per cent to Rs 103.16 crore in the fourth quarter of the 2023-24 fiscal.
The company posted a net profit of Rs 21.62 crore in the year-ago period.
The gross loan portfolio of the microfinance institution (MFI) surpassed Rs 7,112 crore, with zero net NPA, a company statement said.
The net profit of Arohan stood at Rs 313.82 crore in the 2023-24 fiscal (FY'24), as compared to Rs 71 crore in the previous year.
In the January-March quarter of FY'24, the revenue of the MFI touched Rs 435.56 crore, registering a growth of 38.47 per cent over Rs 314.56 crore in the corresponding period of the previous fiscal.
The company operates in 16 states in the country with 957 branches.
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