Indel Money doubles profit & eyes continued growth in gold loan market

Indel Money, a gold loan NBFC, has reported a significant rise in profit and revenue for FY24. Profit doubled to Rs 55.75 crore from Rs 29.19 crore in FY23, while total revenue surged by 55% to Rs 289 crore from Rs 185.23 crore. The company attributes this growth to increased disbursements, reaching around Rs 6,000 crore, and consolidated assets under management of Rs 1,800 crore.