Miscellaneous Commercial Services company Vakrangee announced Q2FY24 results:
Financial Performance:
- Total Income: For Q2FY24, Vakrangee reported a total income of Rs 5,228.88 lakhs, marking a 6.52% increase on a YoY basis compared to Q2FY23.
- EBITDA: The company's EBITDA for the quarter stood at Rs 667.53 lakhs, showing a significant increase of 40.80% YoY.
- Profit After Tax (PAT): Q2FY24 saw a substantial rise in PAT with Rs 42.39 lakhs, which is a 210.55% increase on a YoY basis.
Operational Performance:
- Quarterly Gross Transaction Value (GTV): The GTV crossed Rs 13,074.47 crore.
- Number of Transactions: There was a crossing of 3.31 crore transactions in the quarter.
- Franchisee Network Expansion: The appointment of Master Franchisees in 341 districts across 26 states in the country.
- Outlets:
- Total number of Vakrangee Kendras: Not explicitly mentioned for Q2FY24.
- Number of ATMs: Not explicitly mentioned for Q2FY24.
Growth and Expansion Targets (Vision 2030)
- Network Growth: Aim to reach over 3 lakh outlets, with at least 15,000 ATMs.
- Revenue Target: Striving to achieve a revenue target of US$ 1 billion by 2030.
- Transaction Value Goal: Aspirations to handle a Gross Transaction Value of more than US$ 150 billion.
- Geographical Coverage: The company is working on achieving 100% district coverage by March 2024 and plans comprehensive population coverage via their physical and digital platforms.