Indel Money posts ₹56 crore profit in FY24

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Indel Money has registered a profit of ₹55.75 crore in FY 24, a significant jump from ₹29.19 crore in FY23. Total revenue from operations also increased 55 per cent to ₹289 crore from ₹185.23 crore in FY23.

A press release issued here said that disbursements have registered a growth, reaching around ₹6,000 crore. The consolidated assets under management (AUM) for the full year stand at ₹1,800 crore, a significant rise compared with the previous fiscal year.

Umesh Mohanan, Executive Director and CEO, Indel Money, said: “We have been witnessing a steady growth in profit due to consistent rise in new customer acquisition, branch expansion, customer outreach programmes and ongoing digital initiatives. We are working on developing superior operational efficiency through effective tech-integration and expert intervention. The goal is to develop a sustainable financial model that continues to focus on growth and profitability.”