Advik Capital Quarterly Results: Check company's Q1FY23 financial performance - Net profit, revenue and more

Advik Capital Quarterly Results: Announcing its Q1FY23 financial performance, Advik Capital Limited (ACL) has reported a jump in the net profit for the quarter ended June 30, 2022 on the back of lower base during April-June 2021 period, impacted by the global pandemic, as per an official statement. 

The non banking financial services firm reported a profit after tax (PAT) close to Rs 1 crore in the June 2022 quarter, which is about 120 times higher than net profit of Rs 0.008 crore in the same quarter previous year, as per an official release. 

The company reported a rise in the revenue from operations to Rs 108.82 crore.

In the preceding period, March 2022 quarter, the company had reported a revenue from operation of Rs 33.09 crore, with a net profit of Rs 0.19 crore.

Advik Capital Limited is a Non-deposits taking Non- Banking Finance Company (NBFC) registered with Reserve Bank of India (RBI). 

The company also informed the exchanges that it has raised Rs 49.68 crore via rights issue via allotment of 17,43,19,680 rights equity shares face value of Re 1 at a price of Rs 2.85 per each to the eligible shareholders of the company.