Abans Holdings Limited Delivers Outstanding Q3 FY 2024 Performance

• Agency income shows significant growth, with a 168% YoY increase to Rs 71 Cr in 9M-FY24, highlighting Abans Holdings' solid performance across various business segments.
• Lending income grew by 71% YoY to Rs 25 Cr in 9M-FY24 from Rs 15 Cr in 9M-FY23.
• Operating profit demonstrates robust expansion, increasing by 120% YoY in 9M-FY24 to Rs 99 Cr and reflects the company's strong financial trajectory.
• Stellar growth in Q3 FY24, with consolidated revenues surging by 39% QoQ, reaching INR 501.2 crores.

MUMBAI, India, Feb. 14, 2024 /PRNewswire/ -- Abans Holdings Limited, a prominent name in diversified financial services, is pleased to unveil its robust financial performance for the third quarter (Q3) of fiscal year 2024. The company's latest report showcases significant growth across various financial indicators, solidifying its stature as a key player in the industry.

With a strategic focus on asset management business, Abans Holdings Limited has reaped targeted results. Operating profit for the first nine months of FY24 has surpassed that of FY23, reaching an impressive Rs 99 Cr compared to Rs 73 Cr. This strategic decision is proof of the company's commitment to maximising returns and promoting sustainable growth.

The exceptional performance in this period, where operating profit has crossed FY23, speaks volumes about Abans Holdings Limited's efficiency. This growth is attributed to a substantial increase in asset management activity, bolstered by enhanced income from the lending business. Agency business has played a pivotal role in driving this advancement. Its contributions stem from the expansion of assets under management (AUM), augmented revenue from remittance services and an expanding consultancy income. These factors collectively exhibit the company's dedication to delivering value and driving progress across its diverse portfolio of services.

Mr. Abhishek Bansal, Founder & Chairman of ABANS Holdings Ltd, expressed his delight at the company's outstanding performance, stating, that the company's relentless focus on strategic priorities and commitment to excellence has enabled them to achieve significant growth milestones. 

Abans Holdings Limited looks forward to building upon this momentum in the coming quarters, leveraging its strengths to further solidify its position as a leading player in the financial services space.

About Abans Holdings Limited: 

Abans Holdings Limited is a leading diversified financial services company, offering a comprehensive range of services including Institutional Broking, Asset Management, Financial Lending, Treasury operations and Remittance Services. With a focus on maximising returns and fostering sustainable growth, Abans Holdings Limited remains committed to delivering value and driving progress for its clients and stakeholders.