Satin Creditcare Q2 Results: Profit jumps multi-fold to Rs 57 crore

Microfinance lender Satin Creditcare on Friday reported a multi-fold jump in its consolidated net profit at Rs 57.19 crore in the quarter ended September 2022. The company had posted a net profit of Rs 10.94 crore in the year-ago period, it said in a regulatory filing.

Its net loss was at Rs 209.69 crore in the preceding quarter ended June 2022.

Total income increased to Rs 360.69 crore during the quarter under review as against Rs 325.91 crore last year, the company said.

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.

Besides, it received Rs 26 crore from group company Trishashna Holdings & Investments Pvt Ltd, pursuant to conversion of over 41 lakh warrants issued in preferential basis into equivalent number of equity shares.

On Friday, shares of Satin Creditcare closed 6.07 per cent higher at Rs 158.15 apiece on the BSE.