Prest Loans has reported a transformative financial performance for the fiscal year ending 31st March, 2024. The company has witnessed substantial growth and profitability across key financial metrics, marking a significant turnaround from previous years.
In FY’24, Prest Loans’s Assets Under Management (AUM) surged to Rs 19,119 lakh, 74.32 per cent Year-on-Year (YoY) increase. The company’s disbursements also grew robustly, reaching Rs 9,863 lakh, up 16.53 per cent compared to the previous year. Total revenue for the year climbed to Rs 1,430 lakh, reflecting 62.77 per cent increase. Moreover, the company reported a Profit After Tax (PAT) of Rs 93 lakh.
The company also expanded its workforce by 24.43 per cent, with the team growing to 219 employees, up from 176 last year. Additionally, Prest Loans increased its branch network by 13.89 per cent, now operating across 41 locations compared to 36 in the previous year.
Ashok Mittal, Founder and CEO, Prest Loans, said, “Our strong financial performance in FY’24 marks a significant milestone in Prest Loans’s journey. This turnaround reflects the dedication and hard work of our entire team, as well as our strategic focus on growth. We remain committed to drive further growth and deliver sustained value to our stakeholders.”
This financial turnaround highlights Prest Loans’s implementation of its business model and strategic initiatives, positioning the company for continued success in the years ahead.
