Aavas Financiers Q4 net profit jumps 46.19% at Rs 87.61 cr
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The company reported standalone net profit of Rs 87.61 crore for the quarter ended March 31, 2021 as compared to Rs 59.93 crore in the same period last year, registering a year-on-year growth of 46.19 per cent. Net revenue of the company rose substantially by 23.49 per cent at Rs 289.41 crore in January-March quarter of this fiscal as against Rs 234.36 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 15.27 per cent to Rs 75.72 crore from Rs 65.69 crore in year ago period. Other Income grew by 189.23 per cent at Rs 1.88 crore versus (Mar'20 Rs 0.65 crore).
Operating Profit surged by 26.69 per cent to Rs 213.69 crore as against Rs 168.67 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 2.60 per cent in March quarter. Interest grew by 18.24 per cent y-o-y to Rs 115.17 crore, while Taxation increased by 14.44 per cent at Rs 7.37 crore (Mar'20 Rs 6.44 crore).
