{"id":106005,"date":"2023-08-02T17:58:57","date_gmt":"2023-08-02T12:28:57","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106005"},"modified":"2023-08-02T17:58:58","modified_gmt":"2023-08-02T12:28:58","slug":"ugro-capital-profits-increased-by-245-to-rs-25-cr-in-q1fy24","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ugro-capital-profits-increased-by-245-to-rs-25-cr-in-q1fy24\/","title":{"rendered":"UGRO Capital profits increased by 245% to Rs. 25 Cr in Q1FY24."},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3018223310\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>A Data Tech Lending platform called UGRO Capital Limited leverages its broad distribution network and Data-tech approach to close the credit gap for small businesses in India. Regardless of what their particular needs are, MSMEs can benefit greatly from the term loan programs offered by UGRO Capital. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-204385416\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>It has worked with major OEMs to give an end-to-end solution and has a specific program for MSMEs that offers secured and unsecured loans.\u00a0<\/p><p>DataTech lending platform <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/UGROCAP\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">UGRO Capital<\/a><\/strong> on Wednesday said its profit after tax rose 245 per cent to Rs 25.2 crore in the April-June quarter, helped by robust loan disbursement.<\/p><p>The non-banking finance company, which focuses on borrowers from the micro, small and medium enterprises (MSME) segment, had reported a Profit After Tax (PAT) of Rs 7.3 crore in the year-ago period.<\/p><div class=\"trade-content_5\" id=\"trade-2657408583\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The company&#8217;s investment in the distribution channel, large lender base and data-driven underwriting model has stabilised monthly AUM increase of Rs 500-plus crore per month,&#8221; UGRO Capital said in a release.<\/p><p>The company&#8217;s Asset Under Management (AUM) surged to Rs 6,777 crore as on June 2023, up 85 per cent from the year-ago period.<\/p><p>The disbursement rose by 50 per cent to Rs 2,036 crore during the reporting quarter, which also improved the net income to Rs 125.6 crore.<\/p><p>Its total income stood at Rs 218.3 crore in the first quarter of FY24, up 79 per cent year-on-year, while Gross Non-Performing Assets (GNPA) stood at 1.8 per cent of the total AUM.<\/p><p>&#8220;UGRO Capital has set ambitious goals for FY24, and we are dedicated to gaining 1 per cent market share with 1 million small businesses as our valued customers over the next three years,&#8221; Shachindra Nath, Vice Chairman and Managing Director of UGRO Capital, said.<\/p><p>Shares of UGRO Capital ended at Rs 269.35 apiece on the BSE on Wednesday, 3.41 per cent lower from its previous close.<\/p><div class=\"trade-content-10\" id=\"trade-3752975398\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2622873304\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>A Data Tech Lending platform called UGRO Capital Limited leverages its broad distribution network and Data-tech approach to close the credit gap for small businesses in India. Regardless of what their particular needs are, MSMEs can benefit greatly from the term loan programs offered by UGRO Capital. It has worked with major OEMs to give [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":106015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-106005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UGRO Capital profits increased by 245% to Rs. 25 Cr in Q1FY24. - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"A Data Tech Lending platform called UGRO Capital Limited leverages its broad distribution network and Data-tech approach to close the credit gap for small businesses in India. 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