Fedbank Financial Services (FEDFINA) Q2 23/24 earnings summary

Executive summary

• Q2 FY24 AUM was ₹100,304mn, up 38% YoY; disbursements were ₹29,329mn, up 28% YoY.

• Q2 net profit was ₹5,776 lakh, up from ₹4,616 lakh YoY; ROA was 2.4% and ROE 15.9%.

• Network expanded to 607 branches across 17 states and UTs, including entry into Uttarakhand.

Financial highlights

• Q2 revenue from operations was ₹39,479 lakh versus ₹28,464 lakh YoY; H1 revenue was ₹75,618 lakh versus ₹53,214 lakh.

• Q2 net interest income was ₹2,073mn, up 29% YoY and 17% QoQ; operating profit was ₹922mn, up 14% YoY.

• Q2 PBT was ₹7,737 lakh versus ₹6,387 lakh YoY; H1 PBT was ₹14,943 lakh versus ₹12,187 lakh.

• Q2 net profit was ₹5,776 lakh versus ₹4,616 lakh YoY; H1 net profit was ₹11,164 lakh versus ₹8,992 lakh.

• Net gain on direct assignment was ₹182mn, versus ₹105mn in Q2 FY23 and ₹6mn in Q1 FY24.

Outlook and guidance

• Expansion into Uttarakhand and 23 new Q2 branches advanced the long-term expansion strategy; network reached 607 branches in 17 states and UTs.