Net profit of Aye Finance Pvt rose 352.82% to Rs 45.01 crore in the quarter ended December 2023 as against Rs 9.94 crore during the previous quarter ended December 2022. Sales rose 69.34% to Rs 264.27 crore in the quarter ended December 2023 as against Rs 156.06 crore during the previous quarter ended December 2022.

Aye Finance Pvt standalone net profit rises 352.82% in the December 2023 quarter

Microlending platform Aye Finance has raised Rs 310 crore (approximately $37 million) in its Series F funding round led by  British International Investment with the participation of Waterfield Fund and existing backer A91 Partners. The latest equity round has come after a hiatus of more than three years for the company.

Aye Finance bags Rs 310 Cr in a new round led by British International Investment

The company’s asset quality deteriorated in FY2022 owing to the pandemic and also witnessed subdued profitability indicators in FY2022 due to lower margins on account of the reversal of interest income and increased credit costs as a result of higher write-offs.

Aye Finance primarily lends to micro businesses like kiranas/general stores, dairies, manufacturers and traders with an annual turnover of Rs. 10 lakh-1 crore. Given the marginal borrower profile, comprising mostly self-employed customers, and the assessed income-based lending model, the segment remains susceptible to income shocks, which has led to higher write-offs for Aye Finance.


The issuer has made timely interest payments

Mr. Sanjay Sharma, MD & CEO

Since commencing operations in FY2014 by lending to small and micro-enterprises, Aye Finance has an adequate track record. It draws upon the experience of its promoter and management personnel, who have diversified experience of more than 15 years across banks and other FIs.


Aye Finance witnessed a degrowth in its portfolio due to the pandemic, it was able to ramp up its operations and increase its AUM to Rs. 2,204 crores as on December 31, 2022 from Rs. 1,728 crores as on March 31, 2022.

10.60%Aye Finance Private Limited 26 Jan 2025

ISIN:

INE501X07448

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Aye Finance Private Limited

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Aye Finance Pvt standalone net profit rises 352.82% in the December 2023 quarter

Aye Finance bags Rs 310 Cr in a new round led by British International Investment

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