Lendingplate Emerges Profitable in Q1 FY24-25 Amidst Bright Growth Projections

Lendingplate, operated by Unifinz Capital India Limited, achieved profitability for the first time in Q1 FY24-25, disbursing ₹57 crores in loans and recording a consolidated profit before tax of ₹2.51 crores. The company's revenue grew 262% YoY and it aims to disburse ₹500 crores in loans for the fiscal year, driven by advanced technology and strategic initiatives.

NEW DELHI: Unifinz Capital India Limited, previously known as Shree Worstex Limited and operating under the moniker Lendingplate, has achieved profitability for the first time in the first quarter (Q1) of the fiscal year 2024-25. The pioneering digital lending Non-Banking Finance Company (NBFC) reported a consolidated profit before tax of Rs. 2.51 crores for the quarter ending June 2024, a significant turnaround from a loss of Rs. 52 lakhs in the same period last year.

Revenue from operations for the Delhi-based NBFC surged by 262% year-on-year (YoY) to Rs. 15 crores in Q1FY25, up from Rs. 4.14 crores in the corresponding quarter a year ago. During this concluded quarter, Unifinz Capital India Limited disbursed more than 25 thousand loans totaling ₹56.67 crores. This figure represents a 450% growth from the same quarter the last year and an 183% spike from the previous quarter.

Building on this momentum, Unifinz Capital expects to surpass ₹93 crores in loan disbursals for the second quarter and aims for a total loan disbursal of ₹500 crores for FY24-25. According to CEO Kaushik Chatterjee, the company's advances in automation and digital platform enhancements are essential in maintaining robust growth figures. Lendingplate continues to provide innovative financial solutions with a customer-centric approach, making it a preferred choice in the sector.

(With inputs from agencies.)