Satin Creditcare profit rises 86% at Rs 57 crore in FY16

Microfinance lender Satin Creditcare today reported 86 per cent rise in net profit to Rs 57.30 crore for the last fiscal ended March 31.
Its net profit stood at Rs 30.80 crore in the preceding fiscal 2014-15.
"Total revenue expanded by 72 per cent to Rs 558.50 crore in 2015-16, from Rs 324.20 crore in 2014-15," the company said in a statement.
The net interest income grew by 83 per cent to Rs 268.60 crore in 2015-16, as against Rs 146.70 crore in the previous fiscal. The net interest margin (NIM), a key gauge of profitability, expanded to 9.9 per cent from 9.2 per cent.

The gross non-performing assets (NPAs) stood at 0.19 per cent of gross advances during the fiscal. While net NPAs were 0.09 per cent.
"The robust growth in our business is mainly driven by a strong increase in the number of borrowers-up 55 per cent," said H P Singh, Chairman and MD Satin Creditcare.
In addition to microfinance, the company has started SME lending and hope to achieve significant growth in this asset class going forward, he said.
Shares of the company were trading at Rs 369 a piece, up 4.99 per cent, on BSE.