Vakrangee Q4 revenue up 37 pc to Rs 102 crore

Non-banking company Vakrangee Ltd has posted revenue from operations at Rs 102 crore in Q4 FY21 as against Rs 74 crore for the preceding quarter, registering a growth of 37 per cent.

Earnings before interest, taxes, depreciation and amortisation (EBIDTA) stood at Rs 30 crore as against Rs 25 crore, up 18 per cent.

Profit after tax moved up 24 per cent and totalled Rs 21 crore in Q4 FY21 as against Rs 17 crore in the preceding quarter.

Earnings per share for the face value of Re 1 stood at Rs 0.20, up 25 per cent from the previous quarter.

The company has approved a scheme of arrangement for the demerger of Physical Vakrangee Kendra and Digital Vakrangee Kendra (Bharat Easy Super App).

The demerger will unlock the value of both business and result in shareholder value maximisation, the company said.

"The focus is on enhancing strategic flexibility to build a viable platform solely focusing on each of these businesses (physical as well as digital)," it said.

Vakrangee kendras are aligned with the government's vision of financial, social and digital inclusion by reaching out to the remotest parts of the country where basic banking services are not available.

The company has 34,200-plus outlets (over 10,000 operational and nearly 24,200 under on-boarding process) which are spread across 32 states and union territories, 560 districts and 7,250 postal codes.

 

( With inputs from ANI )