BSE listed Advik Capital Ltd. (BSE: 539773), is one of the emerging non-deposits taking Non-Banking Finance Company (NBFC). The company has reported financial results for Q1FY23.
For the quarter ended 30 June 2022, the company recorded a total income of Rs. 109.51 Cr (Q1FY23), which rose from Rs. 0.72 Cr (Q1FY22), indicating a 150x jump YoY. PAT also turned positive for the same period, rising from a loss of Rs. 0.11 lakhs (Q1FY22), to a profit of Rs. 92.66 Lakhs (Q1FY23).
Consolidated Financial Highlights
The company is registered with Reserve Bank of India, New Delhi and is carrying on the Business of investing funds, assisting the financial accommodation by way of loans/advances and undertaking the business of leasing to finance lease operations of all kinds, purchasing, selling, hiring or letting on hire or all kinds of plant and machinery.
The company looks to diversify into personal loans and micro financing segments which offer higher returns on investments and considering the numbers (population size) and growth in consumption of durables in India, the company expects it to be a viable business model.
News Mania Desk
