Five-Star Business Finance records 40% growth in Q4 PAT at Rs 236 cr

Chennai: Non-banking finance company Five-Star Business Finance Ltd has recorded a 40 per cent rise in its profit after tax for the January-March 2024 quarter at Rs 236 crore.

The city-based company had registered a profit after tax at Rs 169 crore during the corresponding quarter of last year.

Total disbursements made during the quarter under review grew by 20 per cent to Rs 1,336 crore, from Rs 1,110 crore registered in the same period of last year.

For the year ending March 31, 2024 the profit after tax grew by 39 per cent to Rs 836 crore from Rs 604 crore registered last financial year.

Total disbursements for the year ending March 31, 2024 stood at Rs 9,641 crore, up by 39 per cent from Rs 6,915 crore registered year ago.

Commenting on the financial performance, company Chairman and Managing Director Lakshmipathy Deenadayalan said, "Q4 was a very strong quarter across the three aspects of quality, profitability and growth. During the quarter, we disbursed Rs 1,336 crore of loans as against Rs 1,209 crore during Q3 of FY2024, a sequential growth of 11 per cent. We added 40 branches during the Q4FY2024 leading to a strong branch network of 520 branches to deliver quality service to our customers," he said in a statement.

"We continued to grow consistently and delivered an AUM growth of 39 per cent year-on-year. Profit After tax for Q4FY2024 grew at 40 per cent as compared to Q4FY2023 and we closed with a full year PAT of Rs 836 crore.." he said.