Niyogin Fintech added 3.20% to Rs 73.60 after the company reported 90% increase in gross transaction value to Rs 11,034 crore in Q4 FY24 from Rs 5,817.8 crore recorded in Q4 FY23.
The GTV is lower by 2% as compared with the figure of Rs 11,258.8 crore posted in Q3 FY24.
The number of transactions handled by the company in Q4 FY24 added up to 3 crore, up 1.4% YoY but down 28% QoQ.
Niyogins AUM as on 31 March 2024 stood at Rs 179 crore, up 95% YoY and up 13% QoQ.
The companys GTV for FY2024 was Rs 43,748.5 crore, up by 192% from Rs 14,994.3 crore recorded in FY2023. Number of transactions handled in FY2024 were 14.8 crore as against 3.8 crore in FY2023.
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Niyogin Fintech caters to Indias underserved MSMEs and is a B2B company that operates on a tech centric platform-based model, wherein it delivers banking as a service or BaaS platforms and credit in both rural and urban India through a partnership-led strategy. Niyogin ties up with business correspondents, banks and neobanks/fintechs to offer BaaS platforms, while it provides credit and other financial services through its financial professional network (or chartered accountants).
The company had reported a net loss of Rs 3.12 crore in the quarter ended December 2023 as against net loss of Rs 5.38 crore during the previous quarter ended December 2022. Sales rose 115% to Rs 53.60 crore in Q3 FY24 as against Rs 24.93 crore in Q3 FY23.
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