JM Fintech Ltd. has reported a profit of ₹1.14 crore for the first quarter (April-June) of FY23, reflecting a 73% growth compared to the same period last year.
The company’s revenue also showed a 37.52% increase, rising from ₹3.69 crore in Q1 of FY22 to ₹5.08 crore in the current period.
In addition to revenue, JM Fintech’s loan assets saw substantial growth. The company’s loan assets reached ₹42.96 crore by the end of the first quarter, a 59.91% increase from ₹26.86 crore in the same period last year. This growth points to a solid expansion of the company’s financial services.
The company’s recent rights issue, which started on July 18, has received a positive response from shareholders. The participation level indicates strong confidence in the company’s future.
The rights issue is scheduled to close on August 14, with the company expecting further support from its investors.
With consistent growth in revenue, profit, and loan assets, JM Fintech seems to be on track for a strong year.
