NBFC Q3 net profit up 75 pc to Rs 97 crore

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NBFC Q3 net profit up 75 pc to Rs 97 crore

Credit Services, a leading non-banking finance company, posted a 75 per cent increase in net profit during the third quarter of the financial year 2022 -- 23 to Rs 97.97 crore, compared to Rs 55.88 crore during the October to December quarter of 2021 -- 22.

The company's total income for the quarter under review was up 51 per cent to Rs 1,094. 13 crore was against 723.6 crore in the third quarter of the previous financial year. The company's AUM was seen as at Rs 19,541 crore as of December 2022, a 53 per cent growth over December 2021.

After tax of Rs, the NBFC reported a net profit. There were 278 crore for the nine months ended December 31, 2022. The total income was Rs 2,925 crore for the nine months ended December 2022, a rise of 47 per cent compared to the previous year's corresponding period of the previous year.

Ashish Sapra, Chief Executive Officer, said in Q3 FY23, our business has seen a growth in loan disbursements due to strong momentum across products. We have added over 2 million customers to our total customer base, bringing our total customer base to nearly 10 million in the last fiscal year. We will continue to provide better customer experience and expand our footprint in new markets.