Published on 29/10/2020 5:34:12 PM | Source: Dion Global Solutions Ltd

Aavas Financiers Q2 net profit down 12.92% at Rs 66.19 cr

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The company reported standalone net profit of Rs 66.19 crore for the quarter ended September 30, 2020 as compared to Rs 76.01 crore in the same period last year, registering a year-on-year decline of 12.92 per cent. Net revenue of the company rose moderately by 16.94 per cent at Rs 270.37 crore in July-September quarter of this fiscal as against Rs 231.20 crore in the corresponding period last year.

During July-September quarter, operating expenses increased by 32.01 per cent to Rs 66.32 crore from Rs 50.24 crore in year ago period. Other Income dipped by 25.00 per cent at Rs 0.03 crore versus (Sep'19 Rs 0.04 crore).

Operating Profit surged by 12.77 per cent to Rs 204.06 crore as against Rs 180.96 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 3.58 per cent in September quarter. Interest grew by 37.20 per cent y-o-y to Rs 114.36 crore, while Taxation increased by 23.13 per cent at Rs 18.42 crore (Sep'19 Rs 14.96 crore).