visimoney
TLDR:
- Moneyboxx Finance has turned profitable in the third quarter, reporting a profit after tax of Rs 5.02 crore in April-December 2023-24.
- During the same period last year, the company had incurred a loss of Rs 2.7 crore.
Moneyboxx Finance, a financial services company, has announced that it has turned profitable in the third quarter of the financial year 2023-24. The company reported a profit after tax of Rs 5.02 crore in the April-December period, compared to a loss of Rs 2.7 crore in the same period last year.
This turnaround in the company’s financial performance can be attributed to various factors, including improved operational efficiency, increased revenue generation, and effective cost management. The company has experienced growth in its loan book and has been able to expand its customer base. Additionally, the company has implemented strategic measures to reduce its non-performing assets and improve overall asset quality.
Moneyboxx Finance offers a range of financial products and services, including personal loans, business loans, and asset financing. The company operates through a network of branches and digital channels, providing convenient and accessible financial solutions to its customers.
The turnaround in Moneyboxx Finance’s financial performance is a positive sign for the company and demonstrates its ability to adapt to changing market conditions and implement effective strategies. The company’s focus on improving operational efficiency, increasing revenue, and managing costs has been instrumental in achieving profitability.
Moving forward, Moneyboxx Finance aims to continue its growth trajectory and expand its market presence. The company will focus on strengthening its product offerings, enhancing customer experience, and exploring new business opportunities. With its improved financial performance and strategic initiatives, Moneyboxx Finance is well-positioned for future success in the financial services industry.
