Arya.ag FY24 results: Profit up 37% at Rs 17 cr despite weather challenges

Agri-tech platform Arya.ag on Monday posted 37 per cent rise in net profit at Rs 17 crore for 2023-24 despite weather-related hurdles and challenges posed by policy changes.

The company had reported a net profit of Rs 12.4 crore in 2022-23.

Net revenue increased to Rs 360 crore during 2023-24 from Rs 297 crore in the previous year, the company said in a statement.

The platform facilitated Rs 22,796 crore worth of commodities, disbursed Rs 12,895 crore with nearly zero NPAs, and enabled commerce worth Rs 4,523 crore during 2023-24, it said.

"In a year fraught with policy changes and weather-related hurdles, Arya.ag has not only weathered the storm but thrived, posting impressive financial results for fiscal year 2023-24," it added.

In the coming financial year, Arya.ag said,"Given the climate-induced stress in agriculture, we will work with farmers, Farmers Producer Organisations (FPOs) and climate champions' to build trust, optimise resource allocation, and minimise adverse environmental impacts," it said.

The company said it will continue to work on its blockchain offerings, artificial intelligence, and deep tech vision to achieve visibility, transparency, and assurance across the agri-value chain.