Abans Holdings Limited FY24 Results: Consolidated net profit surges 27% to Rs. 89.25 crores
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Abans Holdings Limited, a diversified financial services provider, proudly presents its fiscal year-end results as of March 31, 2024, showcasing substantial growth, strategic strides, and operational excellence.
The company’s consolidated agency income exhibited an impressive year-on-year growth, reaching Rs. 100.29 crores. Earnings before interest and tax from asset management operations also soared, increasing by 175% to Rs. 58.52 crores. Lending Income also flourished, increasing by 66% to Rs. 35.50 crores. Notably, the Non-Performing Assets (NPAs) remained at Nil, which underscores the company`s unwavering commitment to sound financial management.
Mr. Abhishek Bansal, Chairman of Abans Holdings Limited commented on the occasion: "Our exceptional financial achievements stand as a testament to the unwavering dedication of our dynamic team and the profound trust vested in us by our esteemed clients. With every milestone reached, we reaffirm our steadfast commitment to delivering unparalleled value to our stakeholders.” Abhishek further added: “Our journey is not merely about financial success; it`s about cultivating enduring relationships, fostering innovation, and making a meaningful impact in the realms we operate in. As we stride forward, we embrace growth opportunities that resonate with our long-term strategic vision, ensuring that every step we take is anchored in integrity and our pursuit of excellence." Abans Holdings Limited through its subsidiary is taking a strategic step to expand its flagship Global Arbitrage Fund to U.S. markets by initiating the regulatory process. The aim is to give investors access to the fund's excellent track record of delivering consistent and significant returns after securing regulatory approval.
Abans Holdings Limited, a diversified financial services provider, proudly presents its fiscal year-end results as of March 31, 2024, showcasing substantial growth, strategic strides, and operational excellence. The company’s consolidated agency income exhibited an impressive year-on-year growth, reaching Rs. 100.29 crores. Earnings before interest and tax from asset management operations also soared, increasing by 175% to Rs. 58.52 crores. Lending Income also flourished, increasing by 66% to Rs. 35.50 crores. Notably, the Non-Performing Assets (NPAs) remained at Nil, which underscores the company's unwavering commitment to sound financial management.
During the fiscal year, the company`s assets under management (AUM) witnessed remarkable growth, reflecting the strategic focus on expanding its asset management activity. The total AUM significantly increased by 53% year-over- year.
Feeling encouraged by these successes, Abans Group remains steadfast in its commitment to growth, innovation, and stakeholder value creation. Mr. Abhishek shared plans: “The Company is actively charting new investment avenues, pioneering product offerings, and venturing into uncharted territories, all while upholding the highest standards of ethical conduct and responsible business practices.”
With determination fixed on the horizon, the company is poised to continue its legacy of global financial success and prosperity.
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