Profectus Capital net income for FY23 jumps by 69% to Rs 273 cr

Profectus Capital Private Limited

Profectus Capital Private Limited (PCPL), an NBFC sponsored by Actis, a worldwide private equity firm, reported remarkable financial achievements for the fiscal quarter and year ending March 31, 2023. PCPL’s AUM is Rs 2,453 crores as of March 2023, a 62% increase from March 2022. The company is committed to investing micro, small, and medium-sized enterprises (MSMEs) in eleven product clusters in India that lack access to official financing channels. The Reserve Bank of India recently granted it a Certificate of Registration under the Factoring Regulation Act, 2011.

In a remarkable feat, the company has reported outstanding financial performance for the fiscal year. Total Income from Operations soared to Rs 273 crores, showcasing a substantial growth compared to the previous fiscal year’s Rs 162 crores.

Net Profit Before Tax has also witnessed a remarkable surge, reaching an impressive Rs 40 crores, a substantial increase from the previous year’s Rs 11 crores.

Furthermore, the company’s loan book experienced exponential growth, surging by an impressive 62% year on year to reach a staggering Rs. 2,453 crores as of March 31, 2023.

Commenting on the results, K V Srinivasan, Executive Director, and CEO, Profectus Capital Private Limited, said, ” Over the last five years, we have established ourselves as the specialist in MSME lending, with a perfect mix of customer orientation, risk management and technology backbone. The FY23 performance reflects the maturity of the organisation’s business model. Not only have we grown at a quick pace, but we have also maintained excellent book quality. Profitability and return on assets also reflect a strong trajectory; we are confident of further improvement in those metrics. MSMEs will power the country’s ambition to become the third-largest economy in the next few years, and this augurs well for our business. Our focus is on the fastest-growing sectors, and our cluster-specific credit policies help us to spot business opportunities and risks better.”

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.