Operating profit more than doubled to Rs 123 crore. Net interest income rose 38% at Rs 233 crore

Satin Creditcare Network, incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 1303.13 Crore) operating in NBFC sector.

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The board of Orchid Pharma will consider and approve, amongst other things, raising of funds and issuance of securities via Qualified Institutions Placement basis. The pharma stock is a multibagger and has surged nearly 18 times in the last five years.

The IPO-bound Fusion Microfinance, which has been piloting a small business-focused secured lending book, is commercially launching it from next month as it seeks to fortify its secured portfolio and also drive faster growth.

During the September quarter, it made an investment of Rs 20 crore in its wholly owned subsidiary Satin Housing Finance by subscribing to 67 lakh equity shares of the company at Rs 29.85 per share, offered on rights basis, it added.

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The microfinance lender had posted net loss of Rs 71 crore a year ago.

"Our consolidated disbursement for the quarter stood at Rs 1,709 crore as compared to Rs 282 crore in Q1FY22 and Rs 1,900 crore in Q4FY22," it said.Break-up wise, microfinance disbursement in the June quarter was Rs 1,540 crore compared to Rs 235 crore last year. However, it was lower than Rs 1,592 crore in preceding quarter ended March 2022.

The company is planning to raise Rs 200 crore in a series B round in the next 4 months; has acquired controlling stake in digital agency Langoor.

A total of 19,250 secured, rated and redeemable non-convertible debentures (NCDs) of Rs 50,000 each have been issued to AAV Sarl and Masala Investments Sarl, Satin said in a regulatory filing on Friday.

While one NBFC-MFI is looking to raise capital by way of the initial public offer, others will sell shares mostly on a private placement basis, people tracking the sector said.Fusion Micro Finances proposed IPO consists of a fresh issue of shares worth Rs 600 crore.

Adani Power, Dabur India, Adani Transmission, Marico, Indus Towers, Voltas, MRF Chola Finance, Sona Comstar, TVS Motors, DCM Shriram, Blue Dart and Happiest Minds are among the companies which will announce their earnings today.

The lender raised the fund at 11.8 per cent rate, payable semi-annually. It allotted the non-convertible debentures worth Rs 75 crore in favour of these investors on Monday.

Floorintree, an India-focused alternative investment manager, will be the first-time investor in Satin while the promoter of the microlender Trishashna Holdings & Investments, which holds 35.4 per cent, will be raising its stake by investing another Rs 100 crore, people familiar with the matter said.

Collection efficiency, a gauge for repayment of loans, was lower at 82 during the quarter under review. Satin's disbursements for the quarter fell to Rs 282 crore as compared with Rs 2,376 crore in the January-March period. The firm's consolidated loan portfolio shrunk to Rs 7464 crore at the end of June against Rs 8100 crore a year back. Its microfinance book stood at Rs 6450 crore as against Rs 7100 crore.

While universal banking access and campaigns around financial literacy are important, the presence of more women at leadership roles in banks and lending institutions is a must to achieve this goal, said the stakeholders at the ET Financial Inclusion Summit.

The microfinance institution reported Rs 38 crore profit for the quarter over Rs 13 crore reported for the year-ago period.

"March quarter was a lot better than the earlier quarters. The three months were practically back to pre-pandemic levels," its Chairman and Managing Director H P Singh said.

In an announcement, the microfinance institution said it had received a senior loan facility from Oesterreichische Entwicklungsbank – OeEB, Austria, through an external commercial borrowing route

The microfinance business in the northeastern state has been facing repayment issues since November 2019 due to socio-political activism.

Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 499.46 Crore) operating in NBFC sector.

During the quarter, microfinance disbursements stood at Rs 632 crore as compared to Rs 1,819 crore in the same quarter of the previous fiscal.

Aditya Birla Sun Life Mutual Fund, in total sold 2.01 percent stake in Mahindra CIE, against its shareholding of 2.07 percent as of June 2020.