Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
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Microfinance company Satin Creditcare Network reported a 67% drop in fourth quarter standalone net profit at Rs 41 crore over Rs 125 crore seen in the year-ago period, on account of the ongoing asset quality stress and resultant rising credit cost.The pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 crore.The lender's credit cost for the quarter rose to 3.8% as compared with 2.6% in the year ago period. The credit cost for the whole FY25 stood higher at 4.6% against the guided range of 4.5%–5%.The gross non-performing assets ratio was at 3.7% at the end of the last fiscal, rising from 2.5% a year back. The rise could be contained through offloading of bad loans by way of technical write-offs and sale of bad loans to an asset reconstruction company, Satin chairman HP Singh told ET.Satin wrote-off loans to the tune of Rs 38 crore for the quarter and Rs 301 crore for the full fiscal. It sold loans worth Rs 200 crore to an ARC during the fourth quarter."We have delivered our 15th consecutive profitable quarter, despite the challenging business environment marked by volatility and policy transitions. We are also pleased to report that our performance remained closely aligned with our stated guidance," Singh said.The lender's assets under management grew 7% year-on-year to Rs 11316 crore at the end of March. Loan disbursement for the fourth quarter was 2.5% higher at Rs 2882 crore against Rs 2810 crore seen in the year-ago period."FY25 was undoubtedly more challenging than the strong year we saw in FY24. So, for us to surpass our previous year's disbursement levels is a big win," Singh said.
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