Berar Finance Ltd. posted a strong FY24 results.

04 September 2024

The company reported a gross income of ₹252 Cr, up from ₹218 Cr, indicating improved operational efficiency and revenue generation capabilities. The net profit after tax reached ₹222 Cr, compared to ₹171 Cr in the previous year, showing significant (year-over-year) growth in profitability. The company disbursed loans amounting to ₹958 Cr, an increase from ₹842 Cr in the last year, indicating strong demand for credit. The assets under management (AUM) rose to ₹1,118 Cr from ₹947 Cr, demonstrating effective asset management and growth in the lending portfolio.

As of March 31, 2024, Berar Finance operated 115 branches across various states, including Maharashtra, Madhya Pradesh, Chhattisgarh, Telangana, Gujarat, and Karnataka. The company opened an additional 10 branches, increasing its total to 125. This expansion aims to enhance geographical coverage and customer reach. The resignation of CFO Ravindra Dorle in August 2023 was followed by the appointment of a new CFO on August 12, 2023, ensuring continuity in financial leadership.