Advik Capital Limited, one of the emerging non-deposits taking Non-Banking Finance Company (NBFC), has reported stellar earnings for quarter ended 30 June 2024.
For the quarter ended 30 June 2024, the company reported revenue from operations at Rs.
22779 Lakhs, recording a growth of 49% YoY. PBT grew 201% YoY, from Rs. 101.18 Lakhs
(Q1FY24) to Rs. 304.77 Lakhs (Q1FY25). The PAT also recorded triple digit growth, growing from Rs. 69.87 Lakhs (Q1FY24) to Rs. 234.97 Lakhs (Q1FY25).
Earlier, the company announced that as a part of its long-term business strategy and to expand its business interest in diverse verticals, is inching closer towards becoming a Systematically Important NBFC. To achieve this coveted status, Advik Capital management has already initiated implementing its business expansion strategy with the objective of broad-basing its portfolio, and diversifying into futuristic new edge businesses, complimenting and supplementing the existing business lines of the Company with holistic evaluation parameters, and pooling more resources required to boost its business operations, hiring industry veterans as domain experts on risk, operations, governance, and technology.
The strategic business decision of Advik Capital to get itself recognised as a Systematic
Important NBFC by 2025 will further strengthen its position in the financial market by way of offering more structured products to its customers.