Niyogin Fintech announces FY21 results

Niyogin Fintech Limited (BSE: 538772), a publicly listed fintech platform, today announced its results for the fourth quarter and year ended March 31, 2021.

Commenting on the Company's performance for FY21, Tashwinder Singh, CEO, Niyogin Fintech Limited said, "We are pleased to share with you our financial results which have vindicated our platform-based business model. We passed a milestone with total revenues crossing INR 500 mn for the full year. The acquisition and integration of iServeU is a significant turning point for us as we broaden our market access and product stack to deepen our customer connect. Even as we negotiate the short-term pandemic headwinds, we continue to focus our energies on multiple opportunities unfolding over the long term."

Key Highlights of FY2021

- Successful integration of iServeU into the Niyogin system

- Consolidated revenues crossed INR 500 mn, up 80.5% over FY20, an important milestone

- The gross transaction value (GTV) of iServeU is INR 57,581 mn, an increase of 46.2% year on year.

- Rural distribution touch points reached 131,082 up 142.9% from FY20

- Wealth AUM grew to INR 9,837 mn; up 31.2%

- The number of partners in urban channel increased by 108.7% year over year to 4,017.

Shares of Niyogin Fintech Ltd was last trading in BSE at Rs.70 as compared to the previous close of Rs. 73.2. The total number of shares traded during the day was 72004 in over 190 trades.

The stock hit an intraday high of Rs. 76 and intraday low of 69.55. The net turnover during the day was Rs. 5166547.

Source : Equity Bulls

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