New Delhi: Ai Finance, a fintech firm that mainly provides unsecured small-ticket business loans to micro enterprises, on Thursday said its net profit nearly tripled to Rs 161 crore in fiscal 2023-24.
Its profit after tax in the year-ago period was Rs 57 crore.
The company's revenue increased by 67 per cent to Rs 1,072 crore in 2023-24 from Rs 643.34 crore in the previous financial year.
Additionally, Ai Finance said its assets under management (AUM) also saw a significant growth from Rs 2,700 crore in FY23 to Rs 4,400 crore.
“Our growth is based on the stable market of the Micro MSE segment… As we look ahead, we are well positioned to capitalize on the huge growth opportunities and as a leading provider of innovative financial solutions to this important segment Let us further strengthen our position,” said Sanjay Sharma, Managing Director, AI Finance.
AI Finance has disbursed over Rs 12,000 crore to over 9 lakh businesses.
Its profit after tax in the year-ago period was Rs 57 crore.
The company's revenue increased by 67 per cent to Rs 1,072 crore in 2023-24 from Rs 643.34 crore in the previous financial year.
Additionally, Ai Finance said its assets under management (AUM) also saw a significant growth from Rs 2,700 crore in FY23 to Rs 4,400 crore.
“Our growth is based on the stable market of the Micro MSE segment… As we look ahead, we are well positioned to capitalize on the huge growth opportunities and as a leading provider of innovative financial solutions to this important segment Let us further strengthen our position,” said Sanjay Sharma, Managing Director, AI Finance.
AI Finance has disbursed over Rs 12,000 crore to over 9 lakh businesses.
