The non-banking financial company, UGRO Capital, announced the Q3FY24 results on Tuesday.
The company has reported a growth of net income, profit as well as the assets under management (AUMs).
UGRO reported total income of Rs 279 crore for the third quarter, increasing 47 per cent on a year-on-year basis and 10 per cent q-o-q. The total income for three quarters ending December stood at Rs 751 witnessing a rise of 61 per cent as compared to its previous period.
The profit after tax (PAT) increased with a rate of 148 per cent y-o-y and stood at Rs 32.5 crore. The consolidated PAT for three quarters increased to Rs 86.7 crore, up 237 per cent y-o-y.
The optimal GNPA / NNPA metrics stood at 2 per cent / 1.1 per cent of the total AUM which witnessed the rise of 64 per cent and stands at Rs 8,364 crore as of December 2023.
The rise in the AUM has led the company to become a member of ‘Billion Dollar AUM Club’.
The increase can be due to the investments strategies of the company and its expanding lender base which leads to at least Rs 500 crore of monthly disbursals.
A well structured risk-management approach and better loan recovery has helped UGRO to reach a customer base of 67,000 as of December quarter of the financial year 24. It has 104 branches as of December.
The Total Debt reported by the company stood at Rs 4,173 crore as on Dec’23, and overall debt to equity ratio was 3.0x.
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