SK Finance records increase in PAT by 66% and AUM by 50%
New Delhi : SK Finance Limited, a leading Non-Banking Financial Company (NBFC) in India, has emerged triumphant with outstanding financial results for the period spanning from June 2022 to June 2023....
New Delhi : SK Finance Limited, a leading Non-Banking Financial Company (NBFC) in India, has emerged triumphant with outstanding financial results for the period spanning from June 2022 to June 2023. Driven by a customer-first approach and fortified by over 28 years of financial expertise, SK Finance has achieved remarkable growth across key financial indicators, setting new benchmarks in the financial industry. The company looks forward to building upon this success and furthering its mission to provide inclusive financial solutions to individuals and businesses nationwide.
Fostering Prosperity: A Stunning Surge in Asset Under Management (AUM)
AUM represents the total value of assets managed by a financial institution on behalf of its customers, partners, and investors, and for SK Finance, this metric witnessed an outstanding growth of 50% from June 2022 to June 2023. The company’s AUM soared from ₹5303 crores to a substantial ₹7937 crores, underscoring its exceptional financial prowess and ability to provide reliable and comprehensive financial services.
SK Finance MD & CEO, Rajendra Setia says that “It has been an elated journey over the last 28+ years having a tremendous learning curve for the company. Started 1994 with a team of only five people, today the company is over 8,800 people strong. We have now become one of India’s most trusted financiers. I will forever be grateful to all our customers, partners and investors who have reposed their faith in us and to my wonderful team for their sheer hard work and dedication which has brought us here. We are here to break the barriers and climb newer heights everyday!”
Empowering Financial Success: Momentous Increase in Profit After Tax (PAT)
SK Finance exhibited robust financial performance, recording a noteworthy 66% increase in Profit After Tax (PAT), an increase from ₹37 crores in June 2022 to an impressive ₹61 crores in June 2023. Such a substantial increase in PAT indicates SK Finance’s effective cost management and revenue generation strategies during the mentioned period.
Loan Disbursement Records a Significant Rise
SK Finance continued its commitment to empowering dreams and aspirations by providing timely financial assistance. Over the course of the reporting period from June 2022 to June 2023, SK Finance demonstrated a significant increase in loan disbursements, providing a total of ₹1451 crores worth of loans. This notable growth of 22% compared to the previous year’s disbursement of ₹1194 crores in June 2022 shows SK Finance’s steadfast commitment to supporting businesses and individuals across various sectors.
SK Finance Products
SK Finance demonstrates its commitment to offering straightforward and easily accessible financial solutions by presenting an extensive array of products designed to cater to diverse customer needs like Commercial Vehicle Loan, Car Loan, Tractor Loan, Construction Equipment Loan, Two-Wheeler Loan, MSME Loan, Home Renovation – Mortgage Loan
Top Awards
In 2023, SK Finance was honored with significant accolades that reflect its exceptional contributions and achievements in the financial sector.
ITOTY Award (Indian Tractor of The Year)
Fastest Growing Tractor Financers SK Finance’s remarkable accomplishments are recognized through the prestigious ITOTY Award, specifically the Fastest Growing Tractor Financers category. This accolade underscores the company’s pivotal role in the agricultural sector by providing financing solutions for tractors, contributing to the growth of this vital industry.
The Economic Times – Best Brands 2022
SK Finance’s commitment to providing comprehensive financial solutions with integrity and reliability has earned the title of The Economic Times Best Brands 2022 . This recognition highlights the company’s ability to resonate with customers and stakeholders, showcasing its dedication to building a trustworthy brand.
Financial Inclusion Across India
SK Finance’s unwavering commitment to financial inclusion has positioned the company as a true pioneer in empowering dreams and aspirations across India. With a robust presence through 458 branches strategically spread across 11 states and 1 Union Territory (Rajasthan, Haryana, Punjab, Himachal Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Gujarat, Maharashtra, Delhi NCR, Uttar Pradesh, Chandigarh [UT]) SK Finance has become a catalyst for positive change in the lives of over 9 lakh customers.
Through innovative and inclusive financial products, SK Finance has profoundly transformed lives. Budding entrepreneurs find support in establishing businesses, farmers secure vital agricultural equipment, individuals realize vehicular dreams, homeowners enhance their living spaces, and MSMEs gain momentum for growth. With each service, SK Finance contributes to the aspirations of a diverse populace, fostering prosperity and empowerment.
