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SG Finserve Ltd Announces Financial Results For The Quarter Ended June 30, 2024

10 July 20243 mins read by Angel One
SG Finserve Limited reports Q1FY25 PAT of ₹19.39 crores. Total income rises to ₹43.54 crores. The company excels in MSME financial inclusion and has strong CRISIL ratings.
SG Finserve Ltd Announces Financial Results For The Quarter Ended June 30, 2024
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On July 10, 2024, SG Finserve Limited announced financial results for the quarter ended June 30, 2024, via a stock exchange filing.

SG Finserve Limited (SGFL) has reported a Profit After Tax (PAT) of ₹19.39 crore for Q1FY25. Management expressed satisfaction in sharing the results for the quarter, marking 22 months since the company commenced lending operations on September 1, 2022, as of June 30, 2024.

Comparing Q1FY25 to Q1FY24, SGFL recorded a Total Income of ₹43.54 crore, up from ₹34.84 crore, and a Net Interest Income (NII) of ₹31.28 crore, up from ₹24.28 crore. However, compared to Q4FY24, Total Income decreased from ₹58.55 crore, NII (Net Interest Income) decreased from ₹37.86 crore, and PAT decreased from ₹23.80 crore. These figures reflect the company’s performance in the recent quarter amidst market conditions.

Financial Highlights Q4 FY 2023-2024

SG Finserve Ltd’s revenue surged by 112.6% year-on-year to ₹58.55 crore in Q4 2023-2024. Quarterly, the company achieved an 11.61% growth in revenue. The company’s net profit increased by 69.4% year-on-year to ₹23.80 crore in Q4 2023-2024. Quarterly, SG Finserve Ltd saw a 9.93% rise in net profits. SG Finserve Ltd’s net profit margin decreased by -20.32% year-on-year to 40.65% in Q4 2023-2024. Quarterly, net profit margins declined by -1.5%.

About SG Finserve Limited

SG Finserve Limited focuses on streamlining supply chain financing and optimising the working capital cycle to ensure financial inclusion for Indian MSMEs through the comprehensive use of technology. Based in Delhi-NCR, India, the company offers financing solutions to channel partners such as dealers, distributors, retailers, and buyers of Indian corporates. They provide competitive interest rates of 10-13% per annum to help grow their businesses and those of their partners. SGFL holds a CRISIL AA rating with a positive outlook for its long-term debt and an A1+ rating for its short-term debt and commercial paper, signifying its strength and reliability as a financial institution.

On July 10, 2024, SG Finserve Ltd’s share price opened at ₹363.90, touching the day’s low at ₹349.00 as of 02:41 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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