Shares of UGRO Capital Limited surged 3% today after the company reported a rise in its earnings and growth numbers for the January to March 2024 quarter. Ugro Capital’s net profit grew 132.83% to Rs 32.69 crore in the March 2024 quarter. This is compared to Rs 14.04 crore profit in the March 2023 quarter.
The company’s sales increased 54.29% to Rs 322.41 crore in the March 2024 quarter. This is higher than Rs 208.97 crore sales in the March 2023 quarter.
For the full year ended March 2024, Ugro Capital’s net profit rose 200% to Rs 119.34 crore. In the previous year ended March 2023, the profit was Rs 39.78 crore.
The company’s full year sales grew 59.64% to Rs 1047.96 crore in 2023-24. In 2022-23, the sales were Rs 656.45 crore.
Following the good results, Ugro Capital shares were trading 2.76% higher at Rs 290.60 on the NSE at 10:30 am today.
The rise in profit and sales numbers shows Ugro Capital had a strong financial performance in the latest quarter and full year.
Also, UGRO Capital Limited has taken a significant step towards expanding its reach and offerings by acquiring ‘MyShubhLife’ (MSL), a prominent Embedded Finance Fintech platform headquartered in Bangalore, for an enterprise value of INR 45 crore.
