U GRO Capital recently released its financial year 2023 results. Could you give us a brief overview of the company's performance during this period?
I am pleased to share that U GRO Capital had a successful financial year 2023. We witnessed robust growth across various financial metrics. Our AUM crossed INR 6,081 Cr (as of Mar 23), up 105% year-on-year. Our Gross loan disbursements reached an all-time high of INR 7,200 Cr for FY23, growing by 129% compared to the previous fiscal year. We have witnessed a steady improvement in asset quality, with the net nonperforming assets (NNPAs) ratio declining to 0.9% on the total AUM. This reflects our disciplined credit underwriting and proactive risk management practices. Our Net Total Income and Profit Before Tax has also exhibited strong growth and stood at INR 390.5 Cr and INR 83.8 Cr, respectively. This growth was driven by higher loan volumes and improved margins through L-a-a-S model which was further supported by increasing operational leverage.
U GRO Capital recently raised equity funding. Could you provide us with some details on this funding round, including the amount raised, key investors, and how the funds will be utilized?
This story is from the June 2023 edition of Outlook Business.
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This story is from the June 2023 edition of Outlook Business.
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