Niyogin Fintech announces Q3FY21 results

Niyogin Fintech Limited (BSE: 538772), a publicly listed fintech platform, today announced its third quarter FY21 results for the period ended December 31, 2020.

Commenting on the Company's performance for Q3FY21, Tashwinder Singh, CEO, Niyogin Fintech Limited said, "We are pleased to share with you our financial results which have vindicated our scalable business model. Our tech structure has enabled us to disrupt the competitive market and drive our market access and in turn enable product and service access for our urban and rural customers. We have hit the mother lode of opportunities with the iServeU acquisition which will propel us into higher growth trajectory through market access and transaction led data. We expect all our businesses to leapfrog into the next level of growth in the mid to long term."

Key Business Highlights

- Completed acquisition of 51% strategic stake in iServeU for INR 592.0 mn
- Total payments gross transaction value (GTV) at INR 13,419.0 mn, up 20% yoy
- Registered platform customer base of 1,25,928 as compared to 55,035 in Q3 FY20
- Wealth AUM stood at INR 10,042.0 mn; up 31% YoY
- Retail partner base stood at 3,658; up 145% YoY

Shares of Niyogin Fintech Ltd was last trading in BSE at Rs.68.5 as compared to the previous close of Rs. 71.7. The total number of shares traded during the day was 10041 in over 69 trades.

The stock hit an intraday high of Rs. 73.15 and intraday low of 68.15. The net turnover during the day was Rs. 689759.

Source : Equity Bulls

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