The fourth quarter and fiscal year 2023 financial results released by Abans Holdings Limited were outstanding, showing strong increases across a number of financial indicators and reiterating the company’s status as a prominent leader in the industry. An increase of 14% over the prior year, Abans Holdings Limited declared a net profit of Rs.
70.3 crore in 2023. Revenue from operations was Rs. 1,150.97 crore while operating profit increased by 15% to Rs. 76 crore. Agency earnings per share were Rs. 14.81, while agency revenue climbed by 83% to Rs. 43 crores.
It expanded into remittance services, purchased the SATCO Growth and Momentum Portfolio, and saw an 83% YoY increase in agency income. The group’s footprint will be bolstered by these purchases, which will also accelerate its upward trend. Abans Holdings Limited aims to expand beyond its current holding company status and act as sponsors and investment managers for managing schemes floated by AIFs.
