Abans Holdings share price jumps after strong Q3 results. Do you own?

In Q3 results 2023, Abans Holdings Ltd, a globally diversified financial services organisation, today reported a consolidated revenue of ₹591.17 crores, showing an annualised growth of 21.97 per cent compared to the previous year.

In Q3FY23 results Abans Holding’s asset management and brokerage business recorded Consolidated Profit Before Tax (PBT) at ₹8.74 crores (for nine month Period Apr-Dec 22), which translates to a significant annualised growth of 148.78 per cent. This strong performance can be attributed to the company’s renewed focus on its asset management business and its efforts to expand its distribution network and promote MLD (market linked debentures) and offshore investment products managed by its Mauritius entity. The lending activities also showed a robust performance with a Consolidated PBT of ₹8.08 Crores (for nine month period Apr-Dec 22), reflecting an annualised growth of 86.38 per cent compared to the previous year.

Commenting on the strong financial results, Mr Abhishek Bansal, Managing Director, Abans Holdings Limited said “We are pleased to announce yet another quarter of strong financial results. We have renewed our focus on asset management business and are making significant investments to enhance this business vertical. Going forward, our growth would be driven by expanding our AUM through a distribution network. Building strong relationships with distribution partners by offering MLD (market linked debentures), offshore investments and other investment products. These initiatives are expected to significantly improve the performance in future.”

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Abhishek Bansal of Abans Holding went on to add, “We are committed to delivering value to our clients and shareholders, and these results are a testament to the hard work and dedication of our team”.

The company’s treasury business reported a marginal decline in PBT. However, the company is optimistic about the future as the inflow of IPO proceeds is expected to increase its interest income in the coming quarters. The company has amended its objects to act as fund managers at Holdings company level.