Arman Financial Services Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 01, 2023 at 09:10 am EDT
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Arman Financial Services Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported revenue was INR 1,603.34 million compared to INR 926.5 million a year ago. Net income was INR 408.16 million compared to INR 199.22 million a year ago. Basic earnings per share from continuing operations was INR 48.04 compared to INR 23.46 a year ago. Diluted earnings per share from continuing operations was INR 43.51 compared to INR 23.44 a year ago.
For the six months, revenue was INR 3,098.42 million compared to INR 1,715.5 million a year ago. Net income was INR 807.54 million compared to INR 356.37 million a year ago. Basic earnings per share from continuing operations was INR 95.07 compared to INR 41.96 a year ago. Diluted earnings per share from continuing operations was INR 87.18 compared to INR 41.94 a year ago.
Arman Financial Services Limited is an India-based holding company. The Company is a non-banking finance company (NBFC). The Company operates through the Financing segment. The Company provides lending services primarily in the two-wheeler, micro-enterprise (MSME), and microfinance segments. It provides finance for all models of motorcycles, mopeds, scooterettes and scooters of Hero, Honda, Bajaj, TVS, HMSI, Suzuki, Yamaha, & Royal Enfield. It operates serves niche rural markets in Gujarat, Madhya Pradesh, Uttar Pradesh, Maharashtra, Uttarakhand, Rajasthan, Haryana, and Bihar through a distribution network of 336 branches, 55+ two-wheeler dealerships spread across 120 districts in eight states serving 6.2 lakh customers. It also focuses on small ticket retail loans to the large underserved informal segment customer in rural and semi urban geographies. The Microfinance division is operated through its wholly owned subsidiary, Namra Finance Ltd.
ARMAN FINANCIAL SERVICES LIMITED 
