Latest news with #SatinCreditcareNetwork
Business Standard
07-05-2025
- Business
- Business Standard
Satin Creditcare Network consolidated net profit declines 82.93% in the March 2025 quarter
Sales decline 3.30% to Rs 620.27 crore Net profit of Satin Creditcare Network declined 82.93% to Rs 21.89 crore in the quarter ended March 2025 as against Rs 128.22 crore during the previous quarter ended March 2024. Sales declined 3.30% to Rs 620.27 crore in the quarter ended March 2025 as against Rs 641.47 crore during the previous quarter ended March 2024. For the full year,net profit declined 57.30% to Rs 186.13 crore in the year ended March 2025 as against Rs 435.94 crore during the previous year ended March 2024. Sales rose 16.35% to Rs 2592.56 crore in the year ended March 2025 as against Rs 2228.23 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 620.27641.47 -3 2592.562228.23 16 OPM % 46.4466.20 - 50.3167.27 - PBDT 25.81177.47 -85 263.04605.55 -57 PBT 18.23171.08 -89 235.77582.89 -60 NP 21.89128.22 -83 186.13435.94 -57
Economic Times
07-05-2025
- Business
- Economic Times
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Satin Creditcare Network's Q4 net profit plummeted 67% to Rs 41 crore due to asset quality stress and rising credit costs. Despite a challenging environment, the lender achieved its 15th consecutive profitable quarter, with assets under management growing 7% to Rs 11316 crore. Loan disbursements saw a slight increase of 2.5% to Rs 2882 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Microfinance company Satin Creditcare Network reported a 67% drop in fourth quarter standalone net profit at Rs 41 crore over Rs 125 crore seen in the year-ago period, on account of the ongoing asset quality stress and resultant rising credit pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 lender's credit cost for the quarter rose to 3.8% as compared with 2.6% in the year ago period. The credit cost for the whole FY25 stood higher at 4.6% against the guided range of 4.5%–5%.The gross non-performing assets ratio was at 3.7% at the end of the last fiscal, rising from 2.5% a year back. The rise could be contained through offloading of bad loans by way of technical write-offs and sale of bad loans to an asset reconstruction company, Satin chairman HP Singh told wrote-off loans to the tune of Rs 38 crore for the quarter and Rs 301 crore for the full fiscal. It sold loans worth Rs 200 crore to an ARC during the fourth quarter."We have delivered our 15th consecutive profitable quarter, despite the challenging business environment marked by volatility and policy transitions. We are also pleased to report that our performance remained closely aligned with our stated guidance," Singh lender's assets under management grew 7% year-on-year to Rs 11316 crore at the end of March. Loan disbursement for the fourth quarter was 2.5% higher at Rs 2882 crore against Rs 2810 crore seen in the year-ago period."FY25 was undoubtedly more challenging than the strong year we saw in FY24. So, for us to surpass our previous year's disbursement levels is a big win," Singh said.
Time of India
07-05-2025
- Business
- Time of India
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Microfinance company Satin Creditcare Network reported a 67% drop in fourth quarter standalone net profit at Rs 41 crore over Rs 125 crore seen in the year-ago period, on account of the ongoing asset quality stress and resultant rising credit pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 lender's credit cost for the quarter rose to 3.8% as compared with 2.6% in the year ago period. The credit cost for the whole FY25 stood higher at 4.6% against the guided range of 4.5%–5%.The gross non-performing assets ratio was at 3.7% at the end of the last fiscal, rising from 2.5% a year back. The rise could be contained through offloading of bad loans by way of technical write-offs and sale of bad loans to an asset reconstruction company, Satin chairman HP Singh told wrote-off loans to the tune of Rs 38 crore for the quarter and Rs 301 crore for the full fiscal. It sold loans worth Rs 200 crore to an ARC during the fourth quarter."We have delivered our 15th consecutive profitable quarter, despite the challenging business environment marked by volatility and policy transitions. We are also pleased to report that our performance remained closely aligned with our stated guidance," Singh lender's assets under management grew 7% year-on-year to Rs 11316 crore at the end of March. Loan disbursement for the fourth quarter was 2.5% higher at Rs 2882 crore against Rs 2810 crore seen in the year-ago period."FY25 was undoubtedly more challenging than the strong year we saw in FY24. So, for us to surpass our previous year's disbursement levels is a big win," Singh said.
