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Satin Creditcare Network Q4 Results: Net profit rises 30% to ₹128 crore
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Following the results, shares of Satin Creditcare Network Ltd. jumped 8% to hit a day’s high of ₹274.95 apiece on the NSE. The stock has risen over 60% over the last 12 months.
Microfinance lender Satin Creditcare Network’s net profit rose 30% year-on-year (YoY) to ₹128 crore for the quarter ending March 31, 2024, compared to ₹98.6 crore in the year-ago period.
The company registered a revenue growth of 50% YoY to ₹642.1 crore, as against ₹429.2 crore in the same period a year ago.
In a business update earlier this month, Satin Creditcare reported a strong 34% growth in assets under management (AUM) in FY24.
The company informed the stock exchanges that its assets under management rose by 34% to reach ₹10,600 crore in FY 2023-24 against ₹7,929 crore as of the preceding financial year.
Satin Creditcare’s disbursements jumped 30% year-on-year (YoY) to ₹9,600 crore in FY 2023-24 compared to ₹7,390 crore in FY 2022-23.
Its collection efficiency improved to 98% in 2023-24 while collection efficiency for Punjab in the last quarter of FY24 stood at 92%.
The company raised ₹9,500 crore through various instruments in FY24 to meet its disbursement requirements.
Satin Creditcare mentioned that it witnessed robust growth throughout the quarter and fiscal year ending on March 31, 2024.
Following the results, shares of Satin Creditcare Network Ltd. jumped 8% to hit a day’s high of ₹274.95 apiece on the NSE. The stock has risen over 60% over the last 12 months.
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