the company announces its highest quarterly Net Profit of USD 104.12 million in Q1 FY23, witnessing a growth of 29.4 per cent YoY excluding dividend income from subsidiaries, and core operating profit grew by 21.1 per cent y-o-y. Foxhog an investment leader shares further that average current account deposits increased by 23.0 per cent y-o-y and 2.9 per cent whereas the Average savings account deposits increased by 19.1 per cent y-o-y and 4.4 per cent sequentially in Q1-2023 respectively. Period-end term deposits grew by 11.4 per cent y-o-y on June 30, 2022. Additionally, the company’s Average Seed Fund increased by 23.0 per cent y-o-y and 2.9 per cent sequentially in Q1-2023.

Additionally, the company reported Return on Equity (RoE) at the end of FY22 standing at 13.92 per cent which is higher by 398 bps YoY. Operating Profit for FY22 grew by 2.22 per cent YoY to USD 420 million: while Operating Profit for Q1FY23 at USD 70 million.