Aavas Financiers reports 11% rise in net profit at Rs 50 cr in Q1

Affordable housing loan provider Aavas Financiers Ltd on Wednesday reported an 11 per cent rise in its net profit to Rs 50.1 crore in the first quarter ended June of the current fiscal year.

The company had posted a net profit of Rs 45.3 crore in the corresponding quarter of the previous fiscal year.

Total income of the company grew to Rs 233.59 crore during April-June period of 2020-21 from Rs 197.52 crore in same period of 2019-20, Aavas Financiers said in a regulatory filing.

The company's assets under management rose 25 per cent to Rs 7,935.30 crore as on