Chennai, Housing finance company Aptus Value has reported 21 per cent rise in its profit after tax for the quarter ending March 31, 2024, at Rs 164 crore.
The city-based firm had reported PAT of Rs 135 crore during the same period last year. For the year ending March 31, 2024, profit after tax increased 22 per cent to Rs 612 crore from Rs 503 crore registered during the same period last year.
Commenting on the financial performance, P Balaji, Managing Director, Aptus Value Housing Finance India Limited, said, “I am pleased to announce that FY24 has turned out to be a good year for Aptus, driven by significant achievements and strong growth. During FY24, we expanded our presence by opening 31 branches, strengthening our network to 262 branches."
Total disbursements increased by 45 per cent to Rs 968 crore during the quarter under review as against Rs 668 crore registered during the corresponding quarter last year.
For the financial year ending March 31, 2024, disbursements increased 31 per cent to Rs 3,127 crore from Rs 2,395 crore during the same period last year.
Balazs said, “As of March 31, 2024, we have maintained adequate liquidity of Rs 1,02 crore, including undrawn approvals of Rs 620 crore from various banks. The company is well capitalized with net assets of over Rs 3,700 crore "
On the outlook, he said, "Going forward, we will continue to prioritize responsible lending and risk management, ensure sustainable growth and quality, and focus on expanding and retaining the existing customer base in new geographies."
Aptus Value Housing Finance India Limited currently has a network of 262 branches across Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Karnataka, Odisha and Maharashtra with over 1.33 lakh active accounts.
The city-based firm had reported PAT of Rs 135 crore during the same period last year. For the year ending March 31, 2024, profit after tax increased 22 per cent to Rs 612 crore from Rs 503 crore registered during the same period last year.
Commenting on the financial performance, P Balaji, Managing Director, Aptus Value Housing Finance India Limited, said, “I am pleased to announce that FY24 has turned out to be a good year for Aptus, driven by significant achievements and strong growth. During FY24, we expanded our presence by opening 31 branches, strengthening our network to 262 branches."
Total disbursements increased by 45 per cent to Rs 968 crore during the quarter under review as against Rs 668 crore registered during the corresponding quarter last year.
For the financial year ending March 31, 2024, disbursements increased 31 per cent to Rs 3,127 crore from Rs 2,395 crore during the same period last year.
Balazs said, “As of March 31, 2024, we have maintained adequate liquidity of Rs 1,02 crore, including undrawn approvals of Rs 620 crore from various banks. The company is well capitalized with net assets of over Rs 3,700 crore "
On the outlook, he said, "Going forward, we will continue to prioritize responsible lending and risk management, ensure sustainable growth and quality, and focus on expanding and retaining the existing customer base in new geographies."
Aptus Value Housing Finance India Limited currently has a network of 262 branches across Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Karnataka, Odisha and Maharashtra with over 1.33 lakh active accounts.
