HT Bureau
GUWAHATI, Aug 10: BSE-listed Advik Capital Ltd. reported its financial results for Q1FY23. For the quarter ended June 30, 2022, the company recorded a total income of Rs 109.51 Cr (Q1FY23), which rose from Rs 0.72 Cr (Q1FY22), indicating a 150-time jump YoY. PAT also turned positive for the same period, rising from a loss of Rs 0.11 lakhs (Q1FY22) to a profit of Rs 92.66 lakhs (Q1FY23).
The company is registered with the Reserve Bank of India, New Delhi, and is carrying on the business of investing funds, assisting the financial accommodation by way of loans/advances, and undertaking the business of leasing to finance lease operations of all kinds, purchasing, selling, hiring or letting on hire or all kinds of plant and machinery. Further, the company looks to diversify into personal loans and microfinancing segments which offer higher returns on investments, and considering the numbers (population size) and growth in consumption of durables in India, the company expects it to be a viable business model.
