Kolkata: Microfinance lender Satin Creditcare Network has reported a consolidated net profit of Rs 11 crore compared with Rs 15.5 crore in the year-ago period.
It had booked a loss of Rs 80.7 crore in the June quarter.
“We have turned around with higher disbursement, which has gone back to pre-Covid level. The worst is over,” chairman HP Singh told ET. He is also expecting collection efficiency to improve further in the next quarter from 96 per cent seen in October.
Its profit before tax however nearly halved at Rs 13.7 crore against Rs 26.3 crore.
The lender had a consolidated loan portfolio of Rs 7381 crore at the end of September while it was Rs 6315 crore on a standalone basis.
Its consolidated loan disbursements for the quarter grew 83 per cent at Rs 1,315 crore as compared with Rs 717 crore in the year-ago period. It was Rs 282 crore in the June quarter.
