Profectus Capital Private Limited, an NBFC backed by Actis, a worldwide private equity firm, reported remarkable financial performance for the fiscal quarter and year ending 30th June 2023. PCPL’s AUM is Rs 2,363 crores as of June 2023, a 47% increase from June 2022. The company is committed to investing in micro, small, and medium-sized enterprises (MSMEs) in eleven product clusters in India that lack access to official financing channels.
Total Income from Operations for the quarter stood Rs 92.96 crores, up from Rs 56.32 crores from the previous year. Net Profit Before Tax has increased to Rs 13.58 crores from Rs 5.51 crores in the previous year’s quarter. As of 30th June 2023, the loan book has grown to Rs. 2,363 crores, representing a 47 per cent increase 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.”
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➔ www.eletsonline.com/subscription/
