Credifin Reports 115% Revenue Surge in Q2

13 Nov 2024 , 03:34 PM

Credifin Limited, previously known as PHF Leasing Limited has announced its financial results for the second quarter of FY 2024-2025, highlighting significant year-on-year growth.

Total revenue for Q2 of FY 2024-2025 increased to ₹1,651.61 lakh, marking a 115% rise compared to ₹768.34 lakh in the same quarter of FY 2022-2023. The Profit After Tax (PAT) for Q2 FY 2024-2025 reached ₹195.67 lakh, representing a 120% growth from the PAT of ₹88.93 lakh reported in Q2 of FY 2022-2023.

On a quarter-on-quarter basis, total revenue for Q2 FY 2024-2025 rose by 39.44%, from ₹1,184.49 lakh in Q1 to ₹1,651.61 lakh in Q2. PAT also experienced a significant increase from ₹91.91 lakh in Q1 to ₹195.67 lakh in Q2 FY 2024-2025, reflecting a 112.89% growth quarter-over-quarter.

Based in Jalandhar, Punjab, Credifin Limited operates as a category “B” NBFC, managing assets under management (AUM) of over ₹280 crore as of September 2024.  Credifin has a BBB- rating from CRISIL, and it has actively reduced its non-performing assets (NPAs), thereby strengthening its financial stability. Credifin’s product offerings now include mortgage loans against immovable property (LAP) and financing options for electric vehicles, such as e-rickshaws, e-loaders, and electric two-wheelers.