Q1FY21: U GRO capital gains more than 3 per cent

U GRO capital, a new-age listed fintech platform gained 3.50 per cent on Thursday after declaring its Q1 FY21 results.

Some of the key highlights for the quarter ended June 2020 are listed below:

1. The Company’s total income stands at Rs. 30.79 crores for Q1 FY21 with a PAT of Rs. 3.73 crores and CRAR of 99.42%.

2. The Company’s GNPA and NNPA figures stand at 1.02% and 0.57% respectively.

3. The Company’s loan under moratorium 2.0 stood at 63% in comparison to 81% as under moratorium 1.0, The non-moratorium book continues with a collections efficiency close to 100%

Commenting on the results, Mr Shachindra Nath, Executive Chairman and Managing Director of U GRO Capital stated, “Stepping into 2020, businesses were already facing the brunt of economic slowdown when the pandemic arose to exacerbate the pain. For us, the circumstances called for a degree of improvisation in the form of digitalization, so as to be able to operate effectively in these unprecedented times. Having done so, our disbursals across all U GRO locations have gained ground amid the lockdown scenario, with our July disbursal figures reaching approximately 80% of pre-COVID levels.”