November 1, 2024
Five-Star Business Finance Q2 net profit up 34 per cent to Rs 268 crore – Industry News
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Five-Star Business Finance Q2 net profit up 34 per cent to Rs 268 crore – Industry News #CashNews.co

Cash News

Five-Star Business Finance reported a 34% year-on-year increase in net profit for the second quarter of FY25, reaching Rs 268 crore.

The Chennai-based non-banking finance company (NBFC) saw its total income rise by 35% to Rs 706 crore. Interest income for the July-September quarter increased 34% year-on-year to  Rs 679 crore.

The lender’s disbursements grew by 4% year-on-year to Rs 1,251 crore in Q2FY25, though they declined sequentially from Rs 1,318 crore in Q1FY25.

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“This is a conscious strategy to moderate our portfolio growth for the full year, leading to a slight drop in disbursements on a q-o-q basis. On a y-o-y basis, we registered a disbursement growth of 4%,” said comapny’s chairman and managing director Lakshmipathy Deenadayalan, in an earnings release.

As of September, Five-Star Business Finance’s total assets reached Rs 10,927 crore, reflecting a 32% year-on-year increase.

The company’s Gross Stage 3 Assets, representing loans overdue by more than 90 days, rose to 1.47% in Q2FY25, up from 1.35% in the same period last year.

Shares of Five-Star Business Finance closed 3% higher at Rs 878 on the NSE.

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