Latest news with #Satin


The Irish Sun
07-07-2025
- Entertainment
- The Irish Sun
I'm 50 and tried beautiful new co-ord for summer night out at Dunnes Stores and it has brilliant feature
IRISH fashion fans have gone wild over a new summer set in Dunnes Stores - but it's selling out fast. The Savida Arti Satin Set has landed in 4 A new summer set has arrived in Dunnes Stores Credit: Instagram 4 The sage co-ord is perfect for all events Credit: Monica, who posts under @ The pretty sage set consists of a sating lace top and a satin midi skirt. She said: 'I really thought it was worth to try it, the top is so different and super cute, with a zipper on the side to make it easier to put on. 'Loved the lace trim and the adjustable bodice to make it cropped or a bit longer. Great idea I have to say. Read more in Fabulous 'And the skirt…well I love silk so this is my ideal outfit. Can look super cute with heels or more funky with trainers.' The Savida Arti Satin Lace Top, costing €20, has a v-neck and ruched detailing. The retailer said: 'Featuring delicate lace trims that frame the neckline, this smooth, satin-like top brings a romantic touch to your wardrobe. 'Adjustable ruched drawstrings allows you to customize the fit and silhouette. Most read in Fabulous 'Pair with the matching skirt for date nights and dinner parties; sold separately.' Monica demonstrated how the drawstrings can be adjusted to make the top more cropped. 'It's an absolute beaut' says Dunnes Stores fan over summer dress with striking bodice just €40 Available in sizes XXS to XXL, sizes L to XL have already sold out online. The matching Savida Arti Satin Midi Skirt is just €25. Its description reads: 'Crafted from a silky satin-like fabric, this elegant skirt from Savida falls to a midi-length that creates a timeless silhouette. Featuring a comfortable elasticated waistband.' The elegant midi skirt comes in XXS to XXL. Both the top and skirt are perfect for mixing and matching with other items in your 'BEAUTIFUL DETAILING' Dunnes Stores designers paired the set with white strappy heels. And Shoppers took to the comments to gush over her Dunnes Stores find. One fan said: 'This has beautiful detailing.' Another said: 'Such a gorgeous green colour outfit.' While another added: 'This is such a great set! Love the detailing of the top.' THE HISTORY OF DUNNES STORES DUNNES Stores opened its first store on Patrick Street in Cork in 1944 - and it was an instant hit. Shoppers from all over the city rushed to the store to snap up quality clothing at pre-war prices in Ireland's first 'shopping frenzy'. During the excitement, a window was forced in and the police had to be called to help control the crowds hoping to bag founder Ben Dunne's 'Better Value' bargains. Dunnes later opened more stores in the 1950s and began to sell groceries in 1960 - starting with apples and oranges. The retailer said: "Fruit was expensive at the time and Ben Dunne yet again offered Better Value than anyone else in town. "Over time, our food selection has grown and that spirit of good value has remained strong. "Now we offer a wide range of carefully-sourced foods from both local Irish suppliers and overseas." The retailer's first Dublin store opened its doors in 1957 on Henry Street and a super store on South Great Georges Street was unveiled in 1960. They added: "In 1971, our first Northern Irish store opened, and many others soon followed. "Expansion continued in the 1980s in Spain, and later into Scotland and England." Dunnes now has 142 stores and employs 15,000 people. 4 Fashion fans raved about the new Dunnes Stores set Credit: Instagram 4 Both items are sold separately Credit:


Time of India
03-06-2025
- Business
- Time of India
Signs of revival: Five listed NBFC-MFIs take Rs 2,440 cr bad loans off balance sheets in Jan-March
Kolkata: Microfinance lenders accelerated the cleansing of their balance sheets in January-March, taking a further hit on profitability as the burden of stressed loans refused to ease, with the once-reputed credit culture of bottom-of-the-pyramid borrowers waning. The write-off was part of a strategy to bite the bullet and be future-ready as the industry expects a turnaround in a quarter or two. The five publicly listed non-banking finance companies-microfinance institutions (NBFC-MFIs)—CreditAccess. Grameen, Fusion Finance , Muthoot Microfin , Satin Creditcare Network and Spandana Sphoorty —cumulatively wrote off bad loans worth Rs 2,440 crore in the fourth quarter of FY25, compared with less than Rs 300 crore in the year-ago period. The idea is to begin the fiscal year by shedding the stickiest and ageing non-performing assets from the balance sheet . Writing off loans needs full provisioning against those accounts. Accelerated write-offs require lenders to raise the provisioning level and take a larger hit on the profit and loss account. 'While challenges remain, the early signals are encouraging, showing a clear reversal,' said HP Singh, chairman of Satin, on a post-earnings analyst call. He noted that at times, only disruption can shake companies out of complacency and force a transformation. 'This perfectly captures the spirit of FY25 — a year many in India's microfinance sector might remember as a testing period, others as a wake-up call.' Satin was the sole listed NBFC-MFI that was profitable in all four quarters of FY25. Udaya Kumar Hebbar, managing director of CreditAccess Grameen , said on an analyst call, 'The rising delinquency trend in the microfinance industry, which began in April 2024, peaked in November 2024, subsequently reversing till March 2025. We are already witnessing a new PAR ( portfolio at risk) accretion rate largely getting normalised across all states, excluding Karnataka.' CreditAccess is the country's largest NBFC-MFI. Live Events HEAVY LOAD Gross non-performing assets (NPAs) before the technical write-off hit a record Rs 61,000 crore at the end of March, up from Rs 38,000 crore a year prior to that, as borrowers defaulted due to over-indebtedness. The sector's cumulative gross loan portfolio contracted by about 7% to Rs 3.81 lakh crore at the end of the March quarter, from the year earlier, as lenders slowed disbursement to prevent further loan losses. Lenders write off loans when there is no realistic prospect of recovery. Accelerated write-offs contribute to elevated credit costs, impacting the profit and loss account. Recoveries against such written-off loans, if any, will get credited to the profit and loss statement. The move was forced by growing customer overleveraging, crumbling of the joint liability model, rising staff attrition and disruptions in Karnataka and Tamil Nadu. For instance, Fusion wrote off Rs 917 crore during the fourth quarter alone, nearly 40% of the cumulative write-offs by listed NBFC-MFIs. To put this into perspective, it had written off Rs 970 crore (net of recoveries) in the past 14 years before FY25. Satin had never written off loans before FY25 despite repayment disruptions during events such as demonetisation and the pandemic. Spandana, which is now under regulatory scrutiny for alleged misreporting and suppression of fraud, wrote off Rs 1,555 crore over the four quarters of FY25. 'The MFI industry stood at a critical juncture, facing formidable challenges,' said Singh of Satin. 'Institutions had to navigate a shifting landscape, clients experienced heightened vulnerability and the sector as a whole was compelled to rethink long-held assumptions.' It forced the sector to pause, reflect and reset, he said. 'These disruptions served as a catalyst, driving deep introspection, operational recalibration and a renewed focus on fundamentals,' Singh said.
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Business Standard
07-05-2025
- Business
- Business Standard
Satin Creditcare Q4: Profit falls 67% on higher credit costs, weak AUM
Microfinance lender Satin Creditcare Network Ltd's standalone net profit declined by 67.2 per cent year-on-year (Y-o-Y) to Rs 41 crore in the fourth quarter ended March 2025 (Q4FY25) due to a rise in credit costs and muted loan growth. For the financial year ended March 2025, Satin's net profit fell by 48.8 per cent to Rs 217 crore, from Rs 423 crore in FY24. Its stock closed 2.66 per cent lower at Rs 167.60 per share on the BSE. Revenues for the reporting quarter (Q4FY25) declined by 5.4 per cent Y-o-Y to Rs 562 crore, the company said in a statement. Net interest margins fell from 14.2 per cent in Q4FY24 to 11.8 per cent. Impairment costs of financial instruments rose from Rs 64.16 crore in Q4FY24 to Rs 105.19 crore in Q4FY25. H P Singh, chairman and managing director, Satin Creditcare, told Business Standard that the decline in profit was attributable to a significant rise in credit costs and muted growth in assets under management (AUM). The company's AUM grew by 6.8 per cent Y-o-Y to Rs 11,316 crore as of the end of March 2025. At present, the company is not providing growth guidance. It will assess how the first quarter ending June 2025—which coincides with the summer season and potential heatwave risks—unfolds. Growth in FY26 is expected to be better than FY25, Singh added.


Economic Times
07-05-2025
- Business
- Economic Times
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Satin Creditcare Network's Q4 net profit plummeted 67% to Rs 41 crore due to asset quality stress and rising credit costs. Despite a challenging environment, the lender achieved its 15th consecutive profitable quarter, with assets under management growing 7% to Rs 11316 crore. Loan disbursements saw a slight increase of 2.5% to Rs 2882 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 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 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 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.


Time of India
07-05-2025
- Business
- Time of India
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel 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 pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 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 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 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.