New Delhi (India), August 10: Unifinz Capital India Limited (formerly known as Shree Worstex Limited), aka lendingplate, a pioneering digital lending NBFC, turned profitable for the first time ever in the first quarter (Q1) of the fiscal year 2024-25. lendingplate reported a consolidated profit before tax of Rs. 2.51 crores for the quarter ending June 2024, compared to a loss of Rs. 52 lakhs in the year-ago period.
Revenue from operations for the Delhi-based NBFC grew 262% year-on-year (YoY) to Rs. 15 crores in Q1FY25, up from Rs. 4.14 crores in the corresponding quarter a year ago. In the just concluded quarter, Unifinz Capital India Limited disbursed more than 25 thousand loans amounting to ₹56.67 cores. These figures represent not only 450% growth in business from the corresponding quarter of the previous year or 183% spike from the immediately preceding quarter but also that the Q1 FY25 business is more than 60% of its annual business of FY23-24. In the last 2 years since its inception, the company has rapidly emerged as a leading digital lending solution in the Non-Banking Finance Company (NBFC) sector, leveraging cutting-edge technology and robust financial expertise to serve a diverse clientele.
Building on its momentum, Unifinz Capital India Limited is optimistic about its growth trajectory for the remaining quarters of FY24-25. The company expects to disburse loans exceeding ₹93 crores in Q2 alone, surpassing the previous year’s annual business and also gearing up for ₹500 crores of total loan disbursal in FY24-25. The company’s strategic initiatives and focus on leveraging advanced technology will continue to drive its success, providing unparalleled financial solutions to its growing customer base.
Kaushik Chatterjee, CEO of UCIL, “Our Q1 performance is in line with our guidance, and we remain confident of our strong upcoming quarters in terms of both revenue and profitability. We are now geared for growth after the first round of automation of our entire loan journey. Our continued efforts in enhancing our digital platform and expanding our reach will help us achieve our targets and further strengthen our position in the market”
About lendingplate: lendingplate, under Unifinz Capital India Limited, is a digital lending NBFC that offers unsecured personal loans up to ₹2,50,000 with flexible repayment options extending up to 15 months. Registered with the Reserve Bank of India, the platform provides instant loan approvals and disbursements in under 30 minutes, servicing more than 5000 pin codes across 250 major cities and towns in 17 states. lendingplate’s customer-centric approach and innovative digital solutions have made it a preferred choice for individuals seeking hassle-free financial assistance.
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