KLM Axiva Finvest, a leading company in the financial services sector, recorded a profit of Rs. 11.38 crore last year. A number of factors contributed to the increase in profits, including the increased demand for gold loans and microfinance.
KLM Axiva Finvest Ltd is a Pan India-based Gold Loan Company having operations majorly in Kerala, Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh.
The total business recorded a growth of 60% to Rs. 2255 crore. The total business in the previous financial year was Rs.1412 crore. Investments increased by 76% to Rs. 1197 crore and total loans increased by 44% to Rs. 1058 crore. Interest income increased by 45% from Rs. 123 crores to Rs.179 crores.
The company was able to significantly reduce its non-performing assets. “Total non-performing assets (NPAs) dropped from 6.56 percent to 4 percent and net NPAs from 4.77 percent to 2.64 percent.” Said Manoj Ravi, , CEO of KLM Axiva Finvest Ltd.
The company has added 74 nos branch network and it has grown to 416 Branches. The company has also added 495 personnel in the financial year 2021 - 2022.
"What has been most satisfying in the past year is the company's emphasis on good talent, as well as the growth in its customer base and we are glad that both investment and loans are improving and the increment in investments clocked to 76% and loans to 44%." Informed Manoj Ravi, CEO of KLM Axiva Finvest Ltd.
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