Satin Creditcare Network

The microfinance lender's stock fell as much as 4.55 per cent during the day to ₹160.2 per share, the biggest intraday loss since April 7 this year

Its net interest income (NII) on a consolidated basis increased by 20 per cent Y-o-Y to Rs 420 crore in Q3FY25, compared to Rs 349 crore in Q3FY24

The uptick in the share price came after the company announced that it has secured 15 million euro debt funding from Asutira's OeEB, to empower rural women entrepreneurs

Analysts expect the sector to see strong loan growth in FY24 and FY25 driven by increase in ticket sizes, strong customer acquisitions, and regulatory tailwinds

Satin Creditcare Network on Friday reported a 70 per cent drop in consolidated profit after tax at Rs 16 crore for the September quarter, hit by higher provisioning

SCNL is waiting for RBI to come out with its on-tap norms by end-August

MFI has already applied for a licence for SME lending to the Reserve Bank of India

Kora Management has made an equity investment of Rs 80 crore in SCNL to support the company's growth and digital initiatives as a financial services provider to rural and semi-rural India

Move prompted by rising defaults in MFI loan books following note ban in November

The stock 19% to Rs 449 after Morgan Stanley Asia (Singapore) bought 830,334 shares at Rs 375 per share.