NeoGrowth, the MSME-focused digital lender in India, announced its financial results for the FY24 and fourth quarter that ended on March 31st, 2024.
Performance Highlights of FY24
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Gross revenue jumped by 57% to INR 601 crore in FY24
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Profit Before Tax (PBT) rose to INR 95 crore in FY24 compared with INR 24 crore in FY23. A stellar growth with 300% increase
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Return on Equity (ROE) stood at 11.5%
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Return on Assets (ROA) stood at 3.3%
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Operating Costs to Net Revenue improved to 37% in FY24
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Net Non-Performing Assets (NNPAs) is 1.6%
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Asset Under Management (AUM) stood at INR 2,750 crore in FY24
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Disbursements grew to INR 2,864 crore in FY24
Performance Highlights of Q4 FY24
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Profit Before Tax grew 113% to INR 28 crore in Q4 FY24 from INR 13 crore in Q4 FY23
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Return on Equity (ROE) stood at 12.8%
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Return on Assets (ROA) was 3.4%
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Operating Costs to Net Revenue improved to 34% in Q4 FY24
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Disbursements grew to INR 867 crore in Q4 FY24