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KLM Axiva Finvest
Source Name: KLM Axiva Finvest

KLM Axiva Finvest Saw a 52 percent Rise in Revenue for 3rd Quarter of FY22-23

Consolidated profit for three quarters stands at Rs. 20.25 crore

Feb 22, 2023 17:05 IST 
Kochi, Kerala, India

KLM Axiva Finvest, the country's leading financial services firm, reported a 52.07% growth in the revenue of Rs. 203.91 crore (Q3 FY23) from Rs. 134.09 crore in the previous quarter of FY23. The brand secured a standalone profit of Rs. 4.73 crore in the 3rd quarter, and the consolidated profit for the three quarters stood at Rs. 20.25 crore.

The total value of assets managed by the company has risen to 1363 crores. There is also a significant increase in gold mortgage loans by ~49%, whereas the total investment rose to Rs. 1246 crore. The income generated from interest stands at Rs. 200.73 cr, a rise of ~56% vis-a-vis Rs. 129.09 cr from last quarter (Q2, FY23).
KLM Axiva's 8th NCD public issue is now open for the public from 20th February, 2023
. The entire amount raised through NCD will be used for gold loan business expansion. Manoj Ravi, CEO, said the NCD issue targeting Rs. 250 crore would end on March 3.

The number of branches of KLM Axiva will reach 1000 this year. KLM Axiva Finvest recently opened a nodal office in Mumbai to consolidate its pan-India presence and accelerate its expansion activities. The company has also speeded up the process for the IPO.

About KLM Axiva Finvest

KLM Axiva Finvest is a systemically important Gold Loan NBFC, which offers business loans secured by gold jewellery, or gold loans, as part of its primary business. The brand is one of the leading gold financing firms in the country. Besides that, it is also one of the most trusted financial services brands since 1997. Today the company has a presence across Pan-India with 660 branches with a solid customer base of over 2 lakh.

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