Aye Finance reports 151 percent profit growth in second quarter
Non-banking financial company Aye Finance reported a net profit of ₹86.7 crore for the quarter ending September, marking a 151 percent increase compared to the same period last year.
Aye Finance, an Indian non-banking financial company, saw its net profit rise to ₹86.7 crore in the second quarter of the fiscal year, up from ₹34.5 crore during the corresponding period last year. On a sequential basis, the company’s profit grew 16 percent from the ₹74.5 crore reported in the previous quarter.
Operating revenue for the quarter reached ₹514.4 crore, representing an 18 percent increase year-on-year and an 8 percent increase quarter-on-quarter. When accounting for ₹12.7 crore in other income, the firm’s total income for the period stood at ₹527.1 crore.
Financial obligations for the company also rose during this period, with total expenses reaching ₹411.3 crore, an increase of ₹8 crore compared to the same quarter last year. Additionally, tax expenses grew significantly to ₹29.1 crore, reflecting the impact of the company's increased profitability.
This growth trajectory highlights the expansion of the lender's operations as it continues to scale its financial services within the Indian market.