Advik Capital Quarterly Results: Check net profit, revenue and more from Q2FY23 earnings

Advik Capital Limited, a non banking financial company (NBFC), has announced its results for the period ended on September 30, 2022 . The company's consolidated net profit zoomed a 3,464.7 per cent to Rs 6.07 crore in the quarter ended September 30, 2022. 

Its revenue from the operations grew 180 times to Rs 228.30 crore in the Q2FY23, which was 1.26 crore in the corresponding period a year ago.

For the half year ended on September 30, 2022, the company reported a consolidated 37.8 times increase in the net profit at Rs 6.99 crore from Rs 0.18 crore in the H1FY22. The revenue from operations rose 170 times to Rs 337.8 crore during the first half of the ongoing fiscal.

Standalone Results

Advik Capital's standalone net profit rose more than 8,800 per cent to Rs 6.24 crore in the September 2022 quarter, which was a little more than Rs 0.07 crore in the same quarter previous year.

Its revenue from the operations surged about 1,500 times to Rs 227.7 crore in the quarter ended September 30, 2022. It's operational revenue was merely Rs 0.15 crore during the year ago quarter.

Advik's standalone net profit jumped 525 per cent from a little less than Rs 1 crore on a sequential basis. Similarly, its revenue from operation advanced 110 per cent from Rs 108.8 crore, it generated in June 2022 quarter.

For the first half of the fiscal year 2022, the company reported a 9,000 per cent rise in the bottomline to Rs 7.23 crore, whereas its revenue from the operations surged roughly about 1,250 times to 335.5 crore.

In the exchange filing, the company added that it has received approval from shareholders to allot 17,43,19,680 equity shares at an issue price of Rs 2.85 apiece on the rights issue basis to its existing shareholders aggregating to Rs Rs 49.68 crore.