Microlender Arohan Financial Services on Friday said its net profit jumped by a whopping 377 per cent to ₹103.16 crore in the fourth quarter of the 2023-24 fiscal.
The company posted a net profit of ₹21.62 crore in the year-ago period, while its microfinance institution (MFI) achieved a gross loan portfolio exceeding ₹7,112 crore with zero net NPA, according to a company statement.
The net profit of Arohan stood at ₹313.82 crore in the 2023-24 fiscal (FY'24), as compared to ₹71 crore in the previous year.
In the January-March quarter of FY'24, the revenue of the MFI touched ₹435.56 crore, registering a growth of 38.47 per cent over ₹314.56 crore in the corresponding period of the previous fiscal.
The company operates in 16 states in the country with 957 branches.