Mufin Green’s Profits Surge 26% Amidst Booming EV Ecosystem

Mufin Green reported a 26% increase in net profit, reaching Rs 5.73 crore in the December quarter, compared to Rs 4.55 crore last year. The growth was driven by a boost in total income to Rs 48.95 crore, amidst rising expenses linked to its focus on the electric vehicle ecosystem.

Mufin Green announced a substantial 26% rise in net profit, amounting to Rs 5.73 crore for the most recent December quarter. This performance contrasts with a Rs 4.55 crore profit obtained in the previous year's corresponding period.

The company's substantial profit increase was facilitated by a significant rise in total income, which soared to Rs 48.95 crore from Rs 27.10 crore in the year-ago period. This income surge is reflective of the firm's strategic focus on the burgeoning electric vehicle sector.

Operating out of Kolkata, Mufin Green is deeply invested in financing various segments of the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, as well as fast chargers and swappable batteries. The company's expenses also climbed to Rs 41.17 crore, underlining its active role in this growing industry.

(With inputs from agencies.)