SBFC Finance Q1 Results: Standalone net profit at Rs 47 crore

For the quarter ended June FY24, the non-banking finance company (NBFC) reported a standalone net profit of Rs 47 crore, up 46.5 percent from the profit of Rs 32 crore in the corresponding previous period. Additionally, during the same quarter, net interest income (NII) increased by 40.6 percent YoY to Rs 141 crore.

After a successful initial public offering (IPO), the SBFC Finance stock was listed on August 16, 2023, and it immediately witnessed a 66 percent increase in value. In light of the potential, the majority of analysts suggested holding the stock for a long time. On the strength of the government's Make-in-India initiative, the "Atmanirbhar Bharat" mission, and the NBFC maintaining a strong business model, excellent financial performance, and steady asset quality, the potential was recognized in the MSME sector.

Incorporated in 2008, SBFC Finance is a non-deposit-taking NBFC that provides loans to entrepreneurs, small-business owners, self-employed people, salaried and working-class people, including secured MSME loans and loans against gold. With more than 157 branches spread throughout 105 cities in 16 states and two union territories, it has a wide-ranging pan-Indian network.

Source: Media Reports