Q4FY19: Satin Creditcare Network profit jumps 169 per cent
Satin Creditcare Network reported a consolidated net profit of Rs. 201 crore for FY19, registering a growth of 169 per cent YoY as against Rs. 75 crore in FY18 on a consolidated basis. The company reported revenues of Rs. 1,448 crore in FY19, up by 40 per cent YoY.
The company’s gross loan portfolio stood at Rs. 7,068 crore, up by 23 per cent YoY. During the quarter ended March 2019, the company reported revenues of Rs. 350 crore, an increase of 19 per cent YoY. The company reported a profit after tax of Rs. 56 crore in the quarter ended March 2019, as against Rs. 38 crore in Q4FY18.
The company’s business with IndusInd Bank reached Rs. 633 crore AUM. The company received a NBFC license for Satin Finserv, Satin’s MSME arm. The company became the first microfinance institution to foray into fintech with Loan Dost, an app-based digital lending platform. The company received a social rating upgrade to sA from Microfinanza, C1 Code of Conduct assessment (COCA) from ICRA. The company also commenced microfinance operations in Tamil Nadu, Meghalaya, Tripura, Pondicherry and Karnataka in FY19.
On Wednesday, the stock of Satin Creditcare Network was trading at Rs. 324 per share, on the BSE.