Mumbai: Abans Holdings, a diversified financial services company, on Tuesday said it booked a consolidated net profit of Rs 89.2 crore during the financial year 2024 (FY24), compared to Rs 70 crore during the previous financial year, an increase of 27.4%. The company reported 18.6% growth in consolidated total income during FY2024 to Rs 1,380 crore from Rs 1,164 crore a year ago.
Abans Holdings also said it has received approval from markets regulator SEBI to act as investment manager for Alternative Investment Funds (AIFs) in India. “This achievement elevates the company from a holding entity to an operating entity,” it said in a release.
Regarding financial performance during FY24, the company said its agency business, asset management operations and loan business have all demonstrated strong growth. Moreover, the company’s non-performing assets (NPAs) remained at zero, “which underlines the company’s unwavering commitment to sound financial management,” it said.
On Tuesday, the stock of Abans Holdings closed at Rs 444, up 8.6%, on the BSE.
Abans Holdings FY24 net profit grew up 27% to Rs 89 crore
