MSME-focused non-banking financial company (NBFC) Clix Capital on Friday reported 125 per cent growth in its profit after tax (PAT) to Rs 63 crore for the financial year 2023-24 from the previous fiscal. Announcing FY24 results, the company said its total lifetime disbursement has surpassed Rs 25,000 crore while assets under management (AUM) reported 31 per cent growth from Rs 4,430 crore in FY23 to Rs 5,820 crore in FY24.
Importantly, the company in February last year had announced targeting Rs 100 crore profit and Rs 5,000 AUM in FY24.
The workforce, said Clix Capital also more than doubled from over 450 to over 1,000 employees in FY24 including its subsidiary Tezz Capital.
The company said it disbursed over Rs 4,475 crore in loans in FY24, growing by 21 per cent from the previous financial year on the back of 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, Clix Capital said in a statement.
In terms of the portfolio quality, its gross non-performing assets (GNPAs) declined to 1.91 per cent of total loans disbursed from 2.48 per cent last year.
Speaking on the results, Rakesh Kaul, CEO, Clix Capital, said, “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.”
Apart from MSME financing, the company also provides healthcare equipment finance, mortgage finance, and K–12 school financing.
“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,” said Kaul.
In July last year, Clix Capital had signed a $20 million loan from the Global Climate Partnership Fund (GCPF), a Luxembourg-based innovative impact investing fund to invest in sustainable projects that help to mitigate climate change.