India Shelter Finance Q1 Profit Surges by 77% Reaching ₹84 Crore

India Shelter Finance Corporation reported a 77% increase in profit after tax (PAT) for the quarter ending June 2024, reaching Rs 84 crore. This is a significant rise from Rs 47 crore in the same period last year.

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The company's Assets Under Management (AUM) grew by 37% year-on-year (YoY), amounting to Rs 6,509 crore in the April-June quarter of FY25, up from Rs 4,759 crore in the previous year.

Growth and Expansion

Rupinder Singh, Managing Director and CEO of India Shelter Finance Corporation, stated, "India Shelter delivered another quarter of consistent performance across parameters with sustainable growth in our AUM. We now operate out of 236 branches across 15 states, having added 13 new branches during the quarter."

Singh also mentioned that the company plans to focus on sustainable growth by further penetrating existing geographies with significant unserved and underserved populations.

Disbursements and Returns

The company's disbursements saw a notable increase of 23% YoY, reaching Rs 715 crore for the quarter. Additionally, the Return on Assets (RoA) improved to 5.6%, compared to 4.2% in the same quarter last year.

Gross Stage 3 assets, which indicate asset quality, remained stable at 1.1%, showing a slight rise from 1% in the April-June quarter of FY24.

India Shelter's consistent performance and strategic expansion efforts highlight its commitment to sustainable growth and serving underserved populations effectively.