Kreon Finnancial Services Ltd announces performance for Q1FY22

Kreon Finnancial Services Ltd is a BSE listed company (BSE Code: KREONFIN; Scrip Code: 530139) established in the year 1994.

The company has executed good all-round performance in terms of revenues and growth during the quarter ended June 2021, surviving through the on-going pandemic. Transactions stood at an all-time high. During the quarter ended 30th June 2021, the Company has achieved a revenue of INR 67.81 Lakhs, which is twice the revenue in the corresponding quarter in the previous financial year. The company has also recorded a Net profit of INR 28.49 Lakhs in this quarter, compared to the loss of -44.20 Lakhs in the corresponding quarter in the previous year, depicting a significant growth in the performance of the Company.

The StuCred app has a wide coverage with users from across all states of India. The StuCred credit facility is accessed by people from different age groups ranging from 18 years to 26 years with more than 70,000+ students registered. The Company has generated a Gross turnover of INR 33.71 Lakhs from the StuCred platform in the last quarter and aiming for higher improvement in the post Covid regime.

Source : Equity Bulls

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