Financial Services company SG Finserve announced Q2FY24 & H1FY24 results: 1. Company Performance: - Q2FY24 Total Income increased to Rs 43.87 crore, up from Rs 34.84 crore in Q1FY24. - Q2FY24 Net Interest Income (NII) rose to Rs 28.31 crore, compared to Rs 23.51 crore in Q1FY24. - Q2FY24 Profit After Tax (PAT) amounted to Rs 17.49 crore, an increase from Rs 15.64 crore in Q1FY24. - H1FY24 Total Income reached Rs 78.70 crore, compared to Rs 1.97 crore in H1FY23. - H1FY24 Net Interest Income (NII) amounted to Rs 51.82 crore, compared to Rs 1.04 crore in H1FY23. - H1FY24 Profit After Tax (PAT) reached Rs 33.13 crore, compared to (negative) Rs 0.26 crore in H1FY23. 2. Loan Book Growth: - Loan Book at the end of Q2FY24 was Rs 1,658 crore, a growth of 33% compared to the previous quarter. - Gross Disbursements in Q2FY24 through SGFL counter amounted to Rs 4,343 crore. 3. Income Growth: - Total Income in Q2FY24 increased by 26% QoQ. - Net Interest Income (NII) in Q2FY24 experienced a 20% QoQ growth. 4. Return on Assets and Equity: - Return on Assets (ROA) for Q2FY24 was 5.42%. - Return on Equity (ROE) for Q2FY24 was 10.44%. 5. Platform and Technology: - SG Finserve Limited operates on a 100% digital platform, facilitating quick and efficient loan processing. - The company utilizes AI-based credit scoring models, combining historical and current data to assess creditworthiness. 6. Business Partners: - SG Finserve Limited has partnered with various anchor companies, such as APL Apollo Tubes, Rama Steel Tubes, Vedanta, and Kirloskar Oil Engines. 7. Funding Partners: - SG Finserve Limited has collaborated with reputed banks and financial institutions including HDFC Bank, Axis Bank, Yes Bank, Bajaj Finserv, and Tata Capital. Result PDF