Aavas Financiers Q1 net profit up 19.59% at Rs 59.89 cr
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The company reported standalone net profit of Rs 59.89 crore for the quarter ended June 30, 2021 as compared to Rs 50.08 crore in the same period last year, registering a year-on-year growth of 19.59 per cent. Net revenue of the company rose moderately by 16.47 per cent at Rs 271.90 crore in April-June quarter of this fiscal as against Rs 233.45 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 47.37 per cent to Rs 79.27 crore from Rs 53.79 crore in year ago period. Other Income dipped by 35.71 per cent at Rs 0.09 crore versus (Jun'20 Rs 0.14 crore). Operating Profit surged by 7.21 per cent to Rs 192.63 crore as against Rs 179.67 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 7.94 per cent in June quarter. Interest grew by 0.87 per cent y-o-y to Rs 112.79 crore, while Taxation increased by 14.30 per cent at Rs 15.03 crore (Jun'20 Rs 13.15 crore).
