Aeon Credit's net profit for the third quarter of the financial year decreased, despite a 15.5% increase in revenue. The company attributed the revenue growth to stronger loan and financing growth. Gross financing receivables and net financing receivables increased significantly compared to the previous year. Aeon Credit also reported a reduction in its non-performing loan ratio.
’s net profit for the third quarter of the financial year ended Feb 28, 2025 fell to RM62.07 million from RM85.55 million last year.
"The gross financing receivables as of Nov 30, 2024 of RM13.665 billion was higher by RM1.762 billion compared to Nov 30, 2023. The net financing receivables after allowance for impairment loss was RM12.901 billion as of Nov 30, 2024 compared to RM11.147 billion as of Nov 30, 2023,” it said in a stock exchange filing.
It was also driven by higher operating expenses, in line with increased transactions and financing volume, compensated by the higher revenue recorded.
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