Shares of Ugro Capital witnessed a rocketing jump of more than 8% in today’s morning trading session after company released business updates for Q2.
UGRO Capital Limited has reported substantial growth in the quarter ended September 2023. The company’s Assets Under Management (AUM) reached approximately INR 7,590 Cr, reflecting a notable 12% increase from Q1’FY24 and an impressive 73% rise from Q2’FY23.
In terms of loan origination, UGRO Capital demonstrated significant progress. The quarterly gross loan origination for Q2’FY24 amounted to around INR 2,500 Cr, marking a substantial 23% rise from Q1’FY24 and an impressive 52% increase from Q2’FY23. The net loan origination for the same period stood at approximately INR 1,470 Cr, reflecting a substantial 15% growth from Q1’FY24 and a remarkable 34% surge from Q2’FY23.
The company also highlighted its strong liquidity position, with total liabilities (excluding Direct Assignment) standing at approximately INR 3,800 Cr as of September 2023. UGRO Capital boasts a diverse base of 60 active lenders.
Additionally, UGRO Capital achieved an off-book AUM of 45% as of September 2023, showing significant progress from 29% in the same period last year. The company remains on track to attain its business target of a 50% Off-Book AUM proportion.”
At the time of reporting the company’s share were trading 5.26% up at ₹287
