Satin Creditcare Community Q2 Outcomes: Internet revenue soars 89% YoY to Rs 103 crore

Microfinance firm Satin Creditcare Community‘s internet revenue zoomed 89% at Rs 103 crore, on the again of decrease credit score prices and enterprise enlargement.

The lender’s internet curiosity margin for the quarter was at 13.5%, above the annual steering of 12.1-12.5%, chairman HP Singh stated. Credit score value got here right down to 1.2% for the interval from about 5% a 12 months again.

“We now have noticed a powerful second quarter, surpassing the Rs 10,000 crore AUM and recording the best ever profitability within the final 5 years,” Singh stated.

Satin’s gross non-performing property ratio stood at 2.38% on the finish of September as in contrast with 3.96% a 12 months again. The portfolio originated from July 2021 onwards which shaped about 96% of the on-book microfinance portfolio has proven good restoration with simply 1.5% of the portfolio not repaid on time.

The lender has provisions of Rs 124 crore which is 1.9% of the on-book portfolio. Assortment in opposition to write-offs was Rs 28 crore, which was added to the revenue.

Singh stated the corporate would look to boost as much as Rs 300 crore in fairness in December both via certified establishments placement (QIP) or by means of preferential allotments. The board permitted the fundraising plan final week. It has additionally permitted a plan to boost Rs 100 crore in debentures.

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