The company’s performance was adversely impacted during FY21, the year of the pandemic. Its revenues rose from ₹677 crore in FY21 to ₹1,351 crore in FY23, while net profit grew even more sharply – rising from ₹5 crore in FY21 to ₹97.6 crore in FY23.
The company had clocked a loss of Rs 20 crore in the year-ago period. Its total income rose to Rs 830.9 crore from Rs 781.6
The regulator imposed this restriction as a temporary measure after discovering that Axis Capital had essentially guaranteed the redemption of NCDs under the pretence of
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