The share price of this Non-Banking Financial Company hit a new 52-week high of Rs. 175 in the trading session of Tuesday, after the company received sanction and disbursement of Rs. 200 crores from IREDA.
With a market capitalisation of Rs. 7,543.6 crores, at 12:58 p.m. the shares of Paisalo Digital Limited were trading in the green at Rs. 170.80, up by 7.12 percent, compared to its previous close of Rs. 159.55.
In the last one year, the company has delivered returns of nearly 187.78 percent and more than 192.5 percent of returns in the last six months. So far in 2024, it has given positive returns of around 83.91 percent.
Along with Paisalo Digital Ltd, at 01:03 p.m. the share price of IREDA rose by 4.98 percent to Rs. 159.05 on Tuesday.
According to recent regulatory filings with the stock exchanges, Paisalo Digital Ltd. has received sanction and disbursement of Rs. 200 crores from the Indian Renewable Energy Development Agency Limited (IREDA) for onward lending to the E-Mobility sector.
The company is committed to being part of IREDA’s mission of promoting the E-Vehicle Sector to minimise carbon footprints and help cut India’s fossil fuel costs.
In terms of financials, the revenue from operations of the company grew by 26.2 percent QoQ from Rs. 145 crore in Q2 FY23-24 to Rs. 183 crore in Q3 FY23-24.
The net profit of the company is Rs. 56 crore in Q3 FY23-24, a growth of 19.14 percent on a quarter-on-quarter basis from Rs. 47 crore in Q2 FY23-24.
Paisalo Digital Limited, founded in 1992 as S.E. Investments Private Limited, is a Non-Deposit Taking Non-Banking Financial Company.
The company’s objective is to empower India’s unbanked and underserved individuals through accessible and inclusive financial solutions.
Written by Shivani Singh
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