Aye Finance Shares Surge Following Gaurav Seth's Appointment as CFO
Aye Finance spurts after naming Gaurav Seth CFO
Business Standard
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Aye Finance's shares rose 5.67% to ₹140.80 after announcing Gaurav Seth as the new Chief Financial Officer. With over 27 years of experience in the BFSI sector, Seth will lead financial governance as the company expands its micro, small, and medium enterprises (MSME) lending operations across 18 states and 3 union territories in India.
- 01Aye Finance's stock increased 5.67% following Gaurav Seth's appointment.
- 02Seth brings over 27 years of experience in the banking and financial services industry.
- 03The company reported a 111.08% increase in net profit to ₹85.91 crore for Q4 FY26.
- 04Aye Finance operates in 18 states and 3 union territories, focusing on MSME loans.
- 05The company's assets under management grew 27% YoY to ₹7,044 crore.
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Aye Finance, a non-banking financial company (NBFC) focused on lending to micro, small, and medium enterprises (MSMEs) in India, announced a 5.67% rise in its shares to ₹140.80 following the appointment of Gaurav Seth as Chief Financial Officer. In this role, Seth will manage treasury, financial control, and governance functions, leveraging his 27 years of experience in the banking, financial services, and insurance (BFSI) sector. Previously, he held CFO positions at IIFL Home Finance and Airtel Payments Bank. Aye Finance, which operates in 18 states and 3 union territories, reported a 111.08% increase in standalone net profit to ₹85.91 crore for the fourth quarter of FY26, alongside a 29.16% rise in revenue from operations to ₹528.44 crore. The company's assets under management (AUM) grew 27% YoY to ₹7,044 crore, supported by a 25% YoY increase in quarterly disbursements, adding 70,841 new borrowers during the quarter. The credit cost for the quarter was 4.3%, marking a consistent reduction over the past five quarters.
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The appointment of Gaurav Seth is expected to enhance Aye Finance's financial governance and support its expansion strategy, potentially benefiting MSMEs seeking loans.
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