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Profectus Capital Ltd sees 61 per cent increase in profit for FY24

By Staff writer ,

Added 30 May 2024

The company is dedicated to funding micro, small and medium enterprises (MSMEs) across eleven product clusters in India that have inadequate access to formal financing channels.

Profectus Capital Private Limited (PCPL), an NBFC backed by Actis, a global private equity firm, recently announced the financial results for the quarter and financial year ending March 31st, 2024. PCPL's AUM stands at Rs 3,070 crore as of March 2024, up 22 per cent from March 2023. The company is dedicated to funding micro, small and medium enterprises (MSMEs) across eleven product clusters in India that have inadequate access to formal financing channels.

The total income from operations for the year stood at Rs 403 crore, compared to Rs 273 crore for the previous fiscal year. The net profit before tax is up to Rs 64 crore, compared to Rs 40 crore in the previous year. The assets under management grew to Rs. 3,070 crores as of March 31, 2024, reflecting 22 per cent growth over the last year.

Commenting on the results, K V Srinivasan, Executive Director, and CEO, of Profectus Capital Private Limited, said, "During 2023–24, Profectus Capital focused on widening and deepening its distribution network and increasing its customer base among MSME manufacturers. This knowledge-based approach to lending has helped the company improve its profitability while maintaining excellent portfolio quality. We have invested substantial resources and time in evolving cutting-edge risk management practices that will help the company scale up its operations aggressively over the next few years. The company would target attaining a book size of Rs 10,000 crores by FY 2027 with excellent book quality and a sustainable return on equity of 15 per cent."

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