The net profit was Rs 55 crore on standalone basis, against Rs 41 crore in the year-ago period. Operating profit more than doubled to Rs 123 crore. Net interest income rose 38% at Rs 233 crore.
Net interest margin for the quarter improved to 14% from 11% in the year-ago period as the lender increased rates following deregulation in April.
“Growth is back and non-repayment on new loans could be restricted to 0.1%. These are the two major highlights,” Satin chairman HP Singh told ET. Its standalone assets under management rose 11% to Rs 6,798 crore.
“We are glad to announce that the quarter has marked significant improvement in financial and operational performance coupled with consistent improvement in asset quality,” he said.
The gross non-performing assets ratio of the micro lender stood at 3.9% at the end of December, an improvement from 8.6% seen a year back. Net NPA was at 1.49% against 2.7%. A write-off of Rs 90 crore of loans helped improvement in these numbers.
Out of the lender’s Rs 1,151 crore restructured loan book, Rs 390 crore was written off so far while Rs 588 crore was recovered, Singh said.Its microfinance disbursement for the quarter stood at Rs 1,768 crores as compared with Rs 1,224 crore in third quarter of FY22. Consolidated disbursement for the quarter stood at Rs 1,880 crore as compared with Rs 1,348 crore.
Satin Finserv, its MSME lending subsidiary, reached an AUM of Rs 200 crore. while the housing subsidiary Satin Housing Finance reached an AUM of Rs 383 crore at the end of December.
