Aye Finance Profitability Streak Continues, Posts Rs38cr Profit In Q1 FY24
In FY23, Aye Finance generated a profit of Rs 60 crore.The company is backed by leading investors such as CapitalG, Elevation Capital, Light Rock, Alpha Wave, A91 Partners
Aye Finance, a leading MSME lender, has reported a profit of Rs 38.67 crore in the first quarter of fiscal year 2023-24 (Q1 FY24). The company was profitable in last fiscal year as well.
In FY23, Aye Finance generated a profit of Rs 60 crore.The company's founder and managing director, Sanjay Sharma, said that the strong performance in Q1 is a reflection of the company's commitment to driving economic growth and meaningful change.
He added that the company's innovative approach, coupled with responsible lending practices and efficient processes, has helped it to achieve profitability.Aye Finance provides unsecured small-ticket business loans to companies in the micro-enterprise segment.
The company is backed by leading investors such as CapitalG, Elevation Capital, Light Rock, Alpha Wave, A91 Partners, and MAJ Invest.The company's strong performance in Q1 is a positive sign for the micro-enterprise lending sector. It is also a testament to the company's ability to adapt to the changing needs of its customers.
