Expressnews
Chennai, Aug. 2024
Indel Money, the flagship non-banking finance company (NBFC) of Indel Corporation, has announced a stellar growth in its revenue from operations in the first quarter of the current fiscal year. The company’s total revenue from operations in Q1FY25 is Rs 78.52 crore, which marks a 19.84% increase compared to Rs 65.52 crore in the same quarter previous year.
Growth in the profit is recorded at Rs 16.76 crore. Debt-to-Equity ratio of the company also improved in the quarter, which is a remarkable sign of low leverage and significant cash flow generation.
Commenting on the quarterly result, Umesh Mohanan, Executive Director & CEO, Indel Money, said: “Despite having a high interest rate regime and funding restrictions due to RBI norms, our performance in the Q1FY25 highlights our perseverance and commitment in maintaining a sustained growth and operational excellence every quarter. The significant growth in our gross revenues and the assets under management (AUM) underscore our strategic focus on expanding our footprint beyond traditional strongholds and enhancing value for our stakeholders. We are confident to maintain this growth momentum in the coming quarters as well on robust GDP growth and credit growth which will enhance demand for gold loans in the country.”
Indel Money has been maintaining a healthy Capital Adequacy Ratio (CAR) while meeting all the regulatory requirements. The company plans to add more than 80 branches in the current fiscal year. The company has a total of 320 branches, spreading across 14 States and the Union territories.
For further information, visit www.indelmoney.com
