Latest News | Aye Finance Posts Nearly 3-fold Jump in Profit to Rs 161 Cr in FY24
Get latest articles and stories on Latest News at LatestLY. Aye Finance, a fintech firm which mainly provides unsecured small-ticket business loans to micro enterprises, on Thursday said its net profit jumped nearly three-fold to Rs 161 crore in the financial year 2023-24.
New Delhi, Jun 6 (PTI) Aye Finance, a fintech firm which mainly provides unsecured small-ticket business loans to micro enterprises, on Thursday said its net profit jumped nearly three-fold to Rs 161 crore in the financial year 2023-24.
Its profit profit after tax stood at Rs 57 crore in the year-ago period.
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The company's revenue grew 67 per cent to Rs 1,072 crore in 2023-24 from Rs 643.34 crore in the preceding fiscal year.
Further, Aye Finance said its assets under management (AUM) also saw a remarkable increase to Rs 4,400 crore from Rs 2,700 crore in FY23.
"Our growth is built on a stable market of micro MSE segment...As we look ahead, we are well-positioned to capitalise on the vast growth opportunities and further strengthen our position as a leading provider of innovative financial solutions for this vital segment," Sanjay Sharma, Managing Director of Aye Finance, said.
Aye Finance has disbursed over Rs 12,000 crore to more than 9 lakh businesses.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)