d.light , a provider of solar-powered household products and affordable finance for low-income households, achieved its highest-ever quarterly revenue and profits in Q2 2024, the company announced.
Consecutive record-breaking monthly revenue figures in May and June, combined with improved operational efficiencies, led to Q2 2024 being d.light's first net income profitable quarter in the company's history since it was founded in 2007. d.light is on course to hit its target of 60 percent year-on-year revenue growth this financial year.
Commenting on the news, d.light CEO Nedjip Tozun said, "We've set ourselves ambitious growth targets for this financial year and our record-breaking results in Q2 demonstrate that we're capable of reaching new heights in the coming months.
"d.light has been EBITDA profitable for several years and we are thrilled to announce our first-ever net income profitable quarter. It's a true indicator of long-term sustainability for d.light and for the PayGo business model, and is a critical milestone for achieving our goal to transform the lives of one billion people by 2030."
d.light's Q2 growth was primarily driven by Sub-Saharan Africa, where it has expanded its presence in recent years supported by securitised receivables financing facilities. Since the beginning of 2020, d.light has set up five securitised finance facilities in Sub-Saharan Africa with a combined total value of USD 718 M - including two in Kenya: one each in Nigeria and Tanzania: and last month a new USD 176 M facility for Kenya, Tanzania and Uganda.
