Baid Finserv Ltd. Posts Spectacular Earnings for Q1FY24, PAT Jumps 131% YoY
Revenue from Operations reported at Rs. 1823.72 Lakhs in Q1FY24
EBITDA came in at Rs. 1290.02 Lakhs in Q1FY24
PAT stood at Rs. 561.01 Lakhs in Q1FY24
AUM Growth 12.79%
Loan Disbursal Growth 55.57%
Q1FY24 – Earnings Update
Jaipur, 04 August 2023: Baid Finserv Ltd. (BSE: 511724, NSE: BAIDFIN), India’s growing MSME Loans (LAP) and Vehicle Loans provider, in its board meeting held on August 04th, 2023, has approved the unaudited Financial Results of the Company for the First Quarter ended on 30 June 2023. The board further recommended final dividend of Re. 0.10 (5% of Equity Share of Rs. 2 each) per share for FY 22-23, subject to the declaration of the same by the members in the ensuing Annual General Meeting.
Standalone Financial Statement Highlights for Q1FY24 vs Q1FY23 vs Q4FY23
Particulars (Rs. Lakhs except EPS) |
Q1FY24 |
Q1FY23 |
YoY% |
Q4FY23 |
Revenue from Operations |
1823.72 |
1283.61 |
29.61% |
1517.41 |
Other Income |
6.70 |
92.81 |
(6.01) |
|
Total Revenue |
1830.42 |
1376.42 |
32.98% |
1511.40 |
Total Expenses excluding Depreciation, Amortization & Finance Cost |
540.40 |
633.23 |
743.89 |
|
EBITDA |
1290.02 |
743.19 |
73.57% |
767.51 |
EBITDA Margin (%) |
70.48% |
53.99% |
1649 bps |
50.78% |
Depreciation & Amortization |
11.68 |
8.88 |
5.88 |
|
Finance Cost |
528.67 |
427.12 |
402.88 |
|
PBT before Exceptional Item |
749.67 |
307.19 |
358.75 |
|
Exceptional Items |
– |
– |
– |
|
PBT |
749.67 |
307.19 |
144.04% |
358.75 |
Tax |
188.66 |
64.56 |
91.81 |
|
PAT |
561.01 |
242.63 |
131.22% |
266.94 |
PAT Margin % |
30.64% |
17.62% |
1302 bps |
17.66% |
Other comprehensive profit / loss |
0.58 |
(1.92) |
(0.59) |
|
Net PAT |
561.59 |
240.70 |
133.31% |
266.35 |
Basic EPS |
0.47 |
0.36 |
0.22 |
Standalone Financial Performance Comparison – Q1FY24 v/s Q1FY23
-
Revenue from Operations grew by 61% from Rs. 1283.61 Lakhs in Q1FY23 to Rs. 1823.72 Lakhs in Q1FY24 primarily driven by increase in disbursements and recovery from write offs.
-
EBITDA increased by 73.57% from Rs. 743.19 Lakhs in Q1FY23 to Rs. 02 Lakhs in Q1FY24
-
EBITDA margins increased from 99% in Q1FY23 to 70.48% in Q1FY24 by 1649 bps.
-
PAT increased by 22 % from Rs. 242.63 Lakhs in Q1FY23 to Rs. 561.01 Lakhs in Q1FY24.
-
PAT margins increased from 62% in Q1FY23 to 30.64% in Q1FY24 by 1302 bps.
Key Business Metric Comparison
-
AUM Growth at79% YoY
-
Loan Disbursals grew by 57%
-
GNPA down by 42 Bps at 74%