Profectus Capital Private Limited (PCPL), an non-banking financial company (NBFC) backed by global private equity firm Actis has announced its financial results for the quarter and financial year ended 30th June 2023. Its assets under management ()AUM stands at Rs 2,363 crores as of June 2023, up 47 per cent from June 2022. 

The company is dedicated to funding micro, small and medium enterprises (MSMEs) across 11 product clusters in India that have inadequate access to formal financing channels. Its total income from operations for the quarter stood at Rs 92.96 crores compared to Rs 56.32 crores for the previous year's quarter.

Its net profit before tax is up to Rs 13.58 crores compared to Rs 5.51 crores in the previous year's quarter. The loan book grew to Rs. 2,363 crores as of 30th June 2023, reflecting 47 per cent growth in the year's first quarter.

Commenting on the results, K V Srinivasan, executive director and CEO of PCPL, said, "We have built a strong process and technology backbone for a profitable, high-quality loan book. With increasing scale, the business would become more profitable over the next few quarters. 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."

PCPL started its operations in November 2017 and has financed entities in various sectors such as education, pharmaceuticals, healthcare, food processing, engineering and machine tools, printing and packaging, textiles, chemicals, and plastics. Most customers have a turnover of Rs 30 million to Rs 300 million. 

Actis hold 100 per cent stake in the NBFC, which has 28 branches in 28 cities across 13 states/union territories. PCPL offers cluster-specific term loans, equipment purchase loans, supply chain finance and funding to smaller NBFCs with quicker loan processing and more accessible documentation.