Profectus Capital Private Limited (PCPL), an NBFC backed by Actis, a global private equity firm, announced impressive figures in the financial results for the Quarter and Financial Year ended 30th June 2023.
PCPL's AUM stands at Rs 2,363 crores as of June 2023, up 47 per cent from June 2022. The company is dedicated to funding micro, small and medium enterprises (MSMEs) across eleven product clusters in India that have inadequate access to formal channels of financing.
Financial performance highlights:
Total Income from Operations for the quarter stood at Rs 92.96 crores compared to Rs 56.32 crores for the previous year quarter.
Net Profit Before Tax is up to Rs 13.58 crores compared to Rs 5.51 crores in the previous year quarter.
The loan book grew to Rs. 2,363 crores as of 30th June 2023, reflecting 47 per cent growth in the first quarter of the year.
Commenting on the results, K V Srinivasan, Executive Director, and CEO, Profectus Capital Private Limited, said, "We have built a strong process and technology backbone for a profitable, high-quality loan book. The business would become more profitable over the next few quarters with increasing scale. The MSME lending market in India is a huge opportunity, and we are happy to play a pioneering role with our cluster-oriented credit policies, which help our customers with flexible financial solutions."