SBFC Finance shares rise by nearly 5% on August 30 due to strong Q1 financial results. Standalone net profit for Q1 FY24 is Rs 47 crore, a 46.5% increase from last year’s Rs 32 crore. Net interest income (NII) grew by 40.6% YoY to Rs 141 crore during the same quarter.
SBFC Finance’s stock was listed on August 16, 2023, surging 66% on debut after a successful IPO.
Established in 2008, SBFC Finance is a non-deposit-taking NBFC offering various loans, including secured MSME loans and loans against gold. Serves entrepreneurs, small business owners, self-employed individuals, salaried workers, and more. Operates across 157 branches in 105 cities, covering 16 states and two union territories.
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