Indostar Capital Finance Ltd Q1FY24; 36% fall in Profits

Indostar Capital Finance Ltd. is a non-banking finance company (NBFC) registered with the Reserve Bank of India as a non-deposit-taking company. It is engaged in Corporate lending & retail lending which includes commercial vehicle finance, SME finance & housing loan finance. It commenced operations in 2011 as an NBFC focussed on financing the corporate sector. In 2016, Company diversified its business from a corporate lender to a retail-focused NBFC.
It has 217 branches across 18 states in Dec 2020. It expanded from 129 branches (Dec 18) with the addition of 58 branches for the commercial vehicle finance segment.

Financial Results:

• Indostar Capital Finance Ltd reported Revenues for Q1FY24 of ₹299.00 Crores down from ₹314.00 Crore year on year, a fall of 4.78%.
• Total Expenses for Q1FY24 of ₹257.00 Crores up from ₹248.00 Crores year on year, a rise of 3.63%.
• Consolidated Net Profit of ₹39.00 Crores down 36.07% from ₹61.00 Crores in the same quarter of the previous year.
• The Earnings per Share is ₹2.86, down 36.16% from ₹4.48 in the same quarter of the previous year.

*It is important to note that the way the results have been accounted for are slightly different than the ones the companies may choose to publish.
*The presented data is automatically generated. It may occasionally generate incorrect information.