KLM Axiva Finvest saw a 52 per cent rise in revenue for 3rd quarter of FY22-23
Feb 22, 2023
Kochi (Kerala) [India], February 22 (ANI/NewsVoir): KLM Axiva Finvest, the country's leading financial services firm, reported a 52.07 per cent growth in the revenue of Rs 203.91 crore (Q3 FY23) from Rs 134.09 crore in the previous quarter of FY23. The brand secured a standalone profit of Rs 4.73 crore in the 3rd quarter, and the consolidated profit for the three quarters stood at Rs 20.25 crore.
The total value of assets managed by the company has risen to 1363 crores. There is also a significant increase in gold mortgage loans by ~49 per cent, whereas the total investment rose to Rs. 1246 crore. The income generated from interest stands at Rs 200.73 cr, a rise of ~56 per cent vis-a-vis Rs 129.09 cr from last quarter (Q2, FY23).
KLM Axiva's 8th NCD public issue is now open for the public from 20th February 2023. The entire amount raised through NCD will be used for gold loan business expansion. Manoj Ravi, CEO, said the NCD issue targeting Rs 250 crore would end on March 3.
The number of branches of KLM Axiva will reach 1000 this year. KLM Axiva Finvest recently opened a nodal office in Mumbai to consolidate its pan-India presence and accelerate its expansion activities. The company has also speeded up the process for the IPO.
KLM Axiva Finvest is a systemically important Gold Loan NBFC, which offers business loans secured by gold jewellery, or gold loans, as part of its primary business. The brand is one of the leading gold financing firms in the country. Besides that, it is also one of the most trusted financial services brands since 1997. Today the company has a presence across Pan-India with 660 branches with a solid customer base of over 2 lakh.
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