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The total debt of the firm stood at Rs 2,208 crore as of Jun 2022, and the overall debt to equity ratio was 2.26x
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U GRO Capital, an MSME lending fintech platform on Monday said that its assets under management (AUM) are at Rs 3,656 crore as of June 30 202 and is on track to cross Rs 7,000 crore AUM by March 2023.
The firm in a statement said that the current off-book AUM stands at Rs 750 crore (21 per cent as of June 30, 2022). The company aims to grow its loan book under co-lending partnerships by 3X to over Rs 2,000 crore by March 2023.
Talking about loan and income growth and portfolio quality, it said that Rs 1,359 crore of gross loans originated in Q1’FY23 (+311 per cent compared to Q1’FY22 and +41% compared to Q4’FY22). Meanwhile, total income stood at Rs 123.8 crore (+141.4 per cent compared to Q1’FY22 and +8.4 per cent compared to Q4’FY22)
Profit before tax (PBT) increased to 10.4 crore (+340.6 per cent compared to Q1’FY22 and +29.3 per cent as compared to Q4’FY22). Profit after tax (PAT) increased to 7.3 crore (+329.4 per cent compared to Q1’FY22 and +20.7 per cent as compared to Q4’FY22), it said.
Also, the total debt of the firm stood at Rs 2,208 crore as of Jun 2022, and the overall debt to equity ratio was 2.26x.
Shachindra Nath, Vice Chairman and Managing Director of U GRO Capital stated, “U GRO Capital is at the forefront of using data analytics and technology to serve the underserved MSME segment.
He said that operational efficiencies have started to kick in with improving profitability with each passing quarter. The company is on track to achieve AUM of Rs 20,000 crore by 2025, as we achieved our highest ever disbursement in Q1 FY23.”