Arman Financial Services Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 03, 2024 at 07:49 am EST
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Arman Financial Services Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported revenue was INR 1,687.63 million compared to INR 1,030.39 million a year ago. Net income was INR 420.02 million compared to INR 219.75 million a year ago. Basic earnings per share from continuing operations was INR 47.71 compared to INR 25.87 a year ago. Diluted earnings per share from continuing operations was INR 44.37 compared to INR 25.87 a year ago.
For the nine months, revenue was INR 4,786.04 million compared to INR 2,745.89 million a year ago. Net income was INR 1,227.56 million compared to INR 576.12 million a year ago. Basic earnings per share from continuing operations was INR 142.78 compared to INR 67.84 a year ago. Diluted earnings per share from continuing operations was INR 131.56 compared to INR 67.81 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.