26 May 2020 | 12:59 PM


Aavas Financiers Q2 net profit zooms 115.45% at Rs 76.01 cr
  Aavas Financiers Ltd. | 17 Jan 2020 | 10:51 AM
Published on 10-25-2019
The company reported standalone net profit of Rs 76.01 crore for the quarter ended September 30 2019 as compared to Rs 35.28 crore in the same period last year registering a year-on-year growth of 115.45 per cent.

Net revenue of the company rose substantially by 46.17 per cent at Rs 231.20 crore in July-September quarter of this fiscal as against Rs 158.17 crore in the corresponding period last year.

During July-September quarter operating expenses increased by 18.18 per cent to Rs 50.24 crore from Rs 42.51 crore in year ago period.

Other Income dipped by 87.88 per cent at Rs 0.04 crore versus (Sep`18 Rs 0.33 crore).

Operating Profit surged by 49.43 per cent to Rs 180.96 crore as against Rs 121.10 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 2.22 per cent in September quarter.

Interest grew by 34.05 per cent y-o-y to Rs 83.35 crore while Taxation decreased by 30.52 per cent at Rs 14.96 crore (Sep`18 Rs 21.53 crore).