India, Sept. 21 -- Info Edge Ventures backed NBFC Ascend Capital's profitability improved significantly in the fiscal year FY26, growing 6.25X to Rs.10 Cr from Rs.1.6 Cr in FY25.

As per ratings assigned by ICRA, the Jaipur-based EV-focused lender's total income for the fiscal jumped about 131% to Rs.50.3 Cr in FY26 from Rs.21.8 Cr in FY25. Its total managed assets (AUM) also expanded 46% to Rs.238.6 Cr from Rs.163.7 Cr during the period.

ICRA noted that the cumulative collection efficiency from Ascend's securitised EV loan portfolio, comprising of three-wheeler EVs like e-autos, loaders and L5 vehicles, stood at 97.5% as on July 2026, while the 90+ days past due (dpd) delinquency stood at 1.3%.

Its gross non-performing assets (GNPA) in...