Fedbank Financial Services Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Total income grew by 14.79% year on year to Rs 490.99 crore during the quarter.

Profit before tax was at Rs 93.63 crore in Q1 FY25, up 3.05% from Rs 90.85 crore reported in Q1 FY24.

The firm’s revenue from retail finance stood at Rs 451.87 crore (up 18.14% YoY), income from wholesale finance was at Rs 0.07 crore, (down 36.36%YoY) and revenue from distribution stood at Rs 8.63 crore (down 16.94% YoY) during the period under review.

Net interest income (NII) surged 41% to Rs 249.6 crore in Q1 FY25 as against Rs 177.7 crore in Q1 FY24.

The NBFC’s asset under management (AUM) jumped 40% YoY to Rs 1,31,881 crore and disbursements climbed 69% YoY to Rs 50,046 crore in Q1 FY25.

During the quarter, return on average equity was at 12.3% while return on average assets stood at 2.4%

Gross NPA was at 2% in Q1 FY25 as against 2.3% posted in Q1 FY24. Net NPA stood at 1.60% in Q1 FY25 as compared to 1.8% registered in Q1 FY24. Capital adequacy ratio (CRAR) stood at 22.8% in Q1 FY25.

During Q1 FY25, the company has opened 35 branches and their total set of branches stood at 619.

Anil Kothuri, MD & CEO, Fedbank Financial Services, said, “We ushered in the new financial year with strong business growth, led by our Gold Loans business. This portends well for the year ahead. With a strong foundation in place, we are well-positioned to capitalize on opportunities to serve the small self-employed customer.”

Fedbank Financial Services is a subsidiary company of Federal Bank and has been engaged in financial services. It has a well-tailored suite of products targeted to match customers needs, which includes mortgage loans such as housing loans, small ticket loan against property (LAP) and medium ticket LAP, unsecured business loans, and gold loans.

The scrip shed 0.98% to Rs 125.85 on the BSE.

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Net profit of Fedbank Financial Services rose 30.35% to Rs 70.23 crore in the quarter ended June 2024 as against Rs 53.88 crore during the previous quarter ended June 2023. Sales rose 32.08% to Rs 477.31 crore in the quarter ended June 2024 as against Rs 361.39 crore during the previous quarter ended June 2023.

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Fedbank Financial Services will hold a meeting of the Board of Directors of the Company on 19 July 2024.

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Fedbank Financial Services has allotted 1,93,750 equity shares under ESOS on 24 June 2024. As a result of the allotment, the paid-up share capital of the Company has accordingly increased from Rs.3,70,59,40,800 consisting of 37,05,94,080 equity shares having a face value of Rs. 10/- each to Rs. 3,70,78,78,300 consisting of 37,07,87,830 equity shares having a face value of Rs. 10/- each.

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