“Five-Star Business Finance Ltd Soars: 40% Rise in Q4 Profits, Branch Expansion Marks Strong Growth”

Five-Star Business Finance Ltd, a non-banking finance company, has reported a 40% increase in its profit after tax for the January-March 2024 quarter, reaching Rs 236 crore. The company had registered a profit after tax of Rs 169 crore during the corresponding quarter of last year. Total disbursements made during the quarter under review grew by 20% to Rs 1,336 crore, from Rs 1,110 crore registered in the same period of the previous year.

For the year ending March 31, 2024, the profit after tax grew by 39% to Rs 836 crore from Rs 604 crore registered in the last financial year. Total disbursements for the year ending March 31, 2024 stood at Rs 9,641 crore, up by 39% from Rs 6,915 crore registered a year ago.

According to the company Chairman and Managing Director Lakshmipathy Deenadayalan, the Q4 was a very strong quarter across the three aspects of quality, profitability and growth. During the quarter, the company disbursed Rs 1,336 crore of loans as against Rs 1,209 crore during Q3 of FY2024, a sequential growth of 11%. The company added 40 branches during the Q4FY2024, leading to a strong branch network of 520 branches to deliver quality service to its customers.

“We continued to grow consistently and delivered an AUM growth of 39% year-on-year. Profit After tax for Q4FY2024 grew at 40% as compared to Q4FY2023 and we closed with a full year PAT of Rs 836 crore,” said Lakshmipathy Deenadayalan in a statement