Satin Creditcare Network Q3 results: Net profit down 87% at Rs 14 crore

Microfinance lender Satin Creditcare Network Ltd's consolidated net profit declined by 87 per cent year-on-year (Y-o-Y) to Rs 14 crore in the quarter ended December 2024 (Q3FY25) due to a sharp rise in provisions related to the impairment of financial instruments. It had posted a net profit of Rs 113 crore in the same quarter of the previous financial year (Q3FY24).

 

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. Its stock closed 1.41 per cent lower at Rs 139.85 per share on BSE.

 

 

The impairment provision for financial instruments rose to Rs 202.54 crore in Q3FY25, up from Rs 37.14 crore in Q3FY24.

 

The MFI, in a statement, said its assets under management (AUM) grew by 10 per cent Y-o-Y to Rs 12,128 crore in December 2024, from Rs 11,074 crore in December 2023. HP Singh, chairman and managing director of Satin Creditcare Network, said the MFI is consolidating and taking a cautious approach in growing its AUM.

 

The business environment is expected to improve after March, and the company aims to grow its AUM by 5–10 per cent Y-o-Y in the next financial year, he added.