UGRO Capital, a DataTech NBFC and a co-lender in the MSME segment, on July 31 reported 20 percent YoY increase in net profit at Rs 30 crore for the quarter ended June 30, 2024.
Its net total income stood at Rs 165 crore in Q1FY25, up 32 percent YoY.
Shachindra Nath, Founder and Managing Director of UGRO Capital said, “At UGRO Capital, we have set ambitious goals for FY25, and we are poised to innovate and expand our footprint in MSME lending. Our recent rating upgrade underscores our relentless dedication to supporting the growth aspirations of MSMEs and reflects the strength of our business fundamentals. Since inception, we have been and continue to be dedicated to facilitating their success because we truly believe that ‘MSME Accha Hai’. As the company marches forward on its path of sustainable growth, it offers a compelling opportunity for investors seeking long-term value and returns.”
On July 31, UGRO Capital's shares on NSE closed trading 0.46 percent higher at Rs 263.4 apiece.
"UGRO Capital's distinctive co-lending approach, combined with the strategic use of co-lending partnerships, accounting for 45 percent off-book AUM, has significantly propelled this growth trajectory," said the company in a stock exchange filing.
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