Fedfina Q1 net profit grows 4% sequentially to Rs70cr

KOCHI: Fedbank Financial Services Ltd (Fedfina) has reported a net profit of Rs70.2 crore for the first quarter of the current financial year (Q1 FY25) against Rs67.7 crore earned for the previous quarter (Q4 FY24) and Rs53.9 crore logged for the same period a year earlier.

This shows that Fedfina registered a sequential growth of 4 per cent and year on year growth of 30 per cent in its net profit for the quarter under review. The company earned an operating profit of Rs128.8 crore for the first quarter, representing a 56 per cent growth year on year.

Anil Kothuri, MD & CEO, Fedbank Financial Services Ltd (Fedfina), said, “We ushered in the new financial year with strong business growth, led by our gold loans business. This portends well for the year ahead. With a strong foundation in place, we are well-positioned to capitalise on opportunities to serve the small self-employed customer.”