AB Capital's Q2FY24 Financial Performance Review

2 mins read . 03 Nov 2023 . 09:32 AM

In this financial performance review, we delve into the results of AB Capital for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.

REVENUE: 
AB Capital reported a total income of ₹7,730 crores in Q2FY24, demonstrating a substantial increase of 9.63% compared to the preceding quarter. On a year-on-year (YoY) basis, the company's revenue exhibited robust growth, with a 13.13% increase from ₹6,833 crores in Q2FY23.

EXPENSES: 
Total expenses for Q2FY24 amounted to ₹6,773 crores, marking a 9.19% increase compared to the expenses in the preceding quarter. On a YoY basis, expenses also increased by 8.56% from ₹6,239 crores in Q2FY23.

NET PROFIT: 
AB Capital reported a net profit of ₹724 crores, reflecting an 8.87% increase compared to the net profit of ₹665 crores in the preceding quarter. On a YoY basis, the net profit showed significant growth, with an impressive increase of 51.15% from ₹479 crores in Q2FY23.

MARGINS: 
AB Capital's margin in Q2FY24 was 9.37%, a slight decline compared to the margin of 9.43% in the preceding quarter, Q1FY24. On a YoY basis, the margin demonstrated a positive trend, increasing from 7.01% in Q2FY23 to 9.37%.

In conclusion, AB Capital's financial performance in the second quarter of fiscal year 2024 reflects a healthy increase in revenue, net profit, and margins. The company has effectively managed expenses while boosting its income, leading to strong YoY growth. These results indicate a positive outlook for AB Capital.

Stay tuned for more updates on upcoming financial performances.