Quarterly Result29 May 2025, 12:12 pm
Prithvi Exchange (India) Limited Announces Q4 & FY 2024-2025 Results: 15.27% Decrease in Revenue
AI Summary
Prithvi Exchange (India) Limited, a well-known brand in the field of Foreign Exchange, announced its Q4 & FY 2024-2025 results. The company reported a 15.27% decrease in revenue for the year ended 31st March 2025 compared to the previous year. The decrease in revenue was primarily due to the RBI's directive to maintain a ratio of 25:75 for bulk to retail business, cap on international student permits, and reduced spending on international travel by Indian travelers. However, the company sees a huge potential for growth due to expansion plans, more countries becoming visa-free, and successfully empanelment with State Bank of India.
Key Highlights
- Launched five new branches in Amritsar, Salt lake area (Kolkata), Anand, Kanpur, and Surat, taking the total count to 31 branches across 18 cities in the country.
- Plans for further branch expansion in various parts of the country subject to regulatory approvals.
- Awarded the Inaugural Enterprise Growth Awards by Deloitte India.
- Expansion plans to add ~ 6-7 branches this year and inducting senior/industry veterans.
- Company had bid for and successfully empaneled with State Bank of India, providing an opportunity for growth across the country.