Indel Money post Rs. 21 crore profit in Q1 of FY24
Gold loan lender Indel Money has registered Rs. 21 crore profit in Q1 of FY24, registering a 63 per cent growth compared to the previous quarter of the corresponding fiscal.
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Indel Money Q1 Results: Profit jumps 63% QoQ to Rs 21 crore
Gold loan non-banking finance company (NBFC) Indel Money has clocked a profit of Rs 21 crore in the first quarter of FY 24, which is quarter on quarter growth of 63%. Operational efficiency and overall resilience in gold demand have driven the NBFC’s performance in the Q1 of FY 24.
Read MoreGold loan digitalisation accelerates credit penetration with accessibility and disbursal agility
In a traditional Indian household, gold is treated with more of aesthetic value than a safe haven asset. But now, the scenario is slowly changing. Even in rural households, the precious metal has gained the status of a hybrid asset class that can be leveraged in a financial emergency. This shift in outlook has happened over a period of time. Consequently, the gold loan industry is also booming in tandem with the rising demand for gold monetization.
Read MoreGold loan NBFC Indel Money looks to strengthen presence in western, central India
Gold loan non-banking finance company (NBFC) Indel Money has taken the decision to strengthen its presence in western and central India as a part of its national expansion plan.
Read MoreGold loan NBFCs maintain strong growth momentum in high-interest rate scenario
The first week of May has witnessed the world’s two biggest central banks – the US Fed and the ECB — raising policy rates in a series, dashing hopes of a pause in the rate hike cycle. In all major economies, there is no let up in the monetary tightening, except in China and Japan.
Read MoreIndel Money to raise Rs 100 cr via NCDs
The NCD issue of face value of Rs 1,000 each will open on June 6 and close on June 19, the lender said in a release.
Read Moreഇന്ഡെല്മണി 50 കോടിയുടെ കടപ്പത്രം ഇറക്കുന്നു
ജൂണ് ആറു മുതലാണ് വിതരണം തുടങ്ങുക. ജൂണ് 19 ന് അവസാനിക്കും. ഇതിനിടെ പൂര്ണ്ണമായി വില്പന നടന്നാല് നിശ്ചിത സമയത്തിനു മുമ്പു തന്നെ വിതരണം…
Read MoreInclusive credit access led by NBFC will facilitate effective growth reboot in small business segments
There is no denying that credit is the undisputed growth enabler for the small businesses looking for working capital and growth capital at every stage of the business cycle.
Read MoreWhat measures to expect in gold loans from FM in Budget 2023?
NBFCs believe this Budget to announce measures that could restore priority sector status to eligible gold loans, including microloans, loans to farmers, and microbusinesses.
Read MoreRBI to slow repo rate hike to 25-35 bps as inflation cools, slowdown fears loom; growth on MPC radar
All eyes are on the Reserve Bank of India’s Monetary Policy Committee (MPC) as it began its bi-monthly policy review session on Monday, 5 December. Analysts expect that the RBI MPC is set to announce further repo rate hikes..
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