Non-banking financial company Satin Creditcare Network today reported a 28 per cent jump in its consolidated net profit at Rs 21.64 crore for the third quarter ended December 31, 2017. The company had registered a net profit of Rs 16.91 crore in the same quarter of 2016-17. Total income (consolidated) increased to 262.73 crore during third quarter of 2017-18 as against Rs 218.51 crore in same period of 2016-17, the company said in a regulatory filing. The firm's Chairman and Managing Director H P Singh said:"Last quarter we returned back into profitability and this quarter we have further built on from that momentum with our PBT and PAT doubling versus last quarter.
The overall collections on our new portfolio, disbursed January 2017 onwards, stands at 98 per cent. We have also reduced the Uttar Pradesh concentration to 34.7 per cent from 36.9 per cent as of September 2017." Singh said the company is on track to meet the full year guidance of Rs 5,500 crore asset under management (AUM) by March 2018. Satin Creditcare stock closed at Rs 464.35 on BSE, up 5.85 per cent.
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