Aye Finance, a fintech firm which mainly provides unsecured small-ticket business loans to micro enterprises, on Thursday said its net profit jumped nearly three-fold to Rs 161 crore in the financial year 2023-24. Its profit profit after tax stood at Rs 57 crore in the year-ago period.
The company's revenue grew 67% to Rs 1,072 crore in 2023-24 from Rs 643.34 crore in the preceding fiscal year.
Further, Aye Finance said its assets under management also saw a remarkable increase to Rs 4,400 crore from Rs 2,700 crore in FY23.
"Our growth is built on a stable market of micro MSE segment...As we look ahead, we are well-positioned to capitalise on the vast growth opportunities and further strengthen our position as a leading provider of innovative financial solutions for this vital segment," Sanjay Sharma, Managing Director of Aye Finance, said.
Aye Finance has disbursed over Rs 12,000 crore to more than 9 lakh businesses.
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