The company stated that Jan'22 was a bit subdued due to covid 3rd wave and it has been resilient and have steadily recovered the loan origination to a healthy monthly run rate of Rs 350cr.

The company continued to maintain healthy liquidity position, total liabilities (excluding direct assignment) stood at INR 1,821.21 crore as of March 2022 and 12 new lenders were added during March 2022 thereby further diversifying liability base to a total of 62 lenders.

As on March 2022, it operates 90+ branches. Collection efficiency improved to 94.1% along with low gross non-performing assets (GNPA) ratio.

UGRO Capital is engaged in the business of lending and primarily deals in financing SME and MSME sector with focus on healthcare, education, chemicals, food processing/FMCG, hospitality, electrical equipment & components, auto components and light engineering segments.

The finance company reported 45.9% decline in net profit to Rs 3.39 crore even with a 118.2% increase in total income to Rs 85.26 crore in Q3 FY22 over Q3 FY21.

The scrip declined 1.39% to currently trade at Rs 117.20.