The new-age NBFC announces 125% increase in FY’24 PAT
FinTech BizNews Service
Mumbai, May 31, 2024: Clix Capital, one of India’s fastest-growing new-age NBFCs, has announced its financial results for FY 2023-24 ended March 31, 2024. The total lifetime disbursement of Clix Capital surpassed INR 25000 crore. The MSME focused NBFC has reported 31% growth in its Asset Under Management from Rs. 4430 crore of FY’23 to Rs. 5,820 crore in FY’24.
Clix Capital has more than doubled its workforce from 450+ to over 1000 employees including its subsidiary Tezz Capital, and has expanded its phygital footprint to 2100+ Indian pin codes. Furthermore, a significant achievement of disbursing over INR 4,475 crore in loans is achieved, marking a remarkable 21% increase from the previous year supporting numerous deserving sectors, thereby contributing to economic growth and job creation. This growth has come on the back of significant investments in operational expansion, technology and sales in the past year including the use of data analytics and AI insights to offer a cutting-edge underwriting and loan approval experience. The company reported a decrease in its GNPA to 1.91%, down from 2.48% of last year, portraying its steadfast commitment of maintaining best in class portfolio quality.
Commenting on the company’s growth and result announcements, Rakesh Kaul, CEO, Clix Capital, said, “FY'24 results reflect our team's hard work, unwavering support from lending partners, and strong support from our distribution partners. Since inception, our endeavour to innovate financial services has impacted over 20,000 MSMEs and the lives of more than 1 lakh individuals employed by these businesses. Moreover, we are proud to play a role in positively influencing the education of over 7.5 lakh students across 475 districts. And our healthcare equipment finance initiatives have made modern healthcare accessible to over 1 million patients in Tier 2 and Tier 3 locations.”
The NBFC had earlier launched its new brand communication, 'Har Jazbe Ke Liye', celebrating the resilience and determination of MSMEs, school owners and healthcare professionals through three digital ad films.
