Satin Creditcare Q2 profit surges over three-fold as asset quality improves
Indian markets moved higher in a quarterly results development.
· ET Stocks, Economic Times Markets
Satin Creditcare Network reported a more than three-fold rise in consolidated net profit to Rs 176 crore in the second quarter, helped by lower microfinance provisions, portfolio growth and improved asset quality. Its gross NPA ratio improved to 1.9% from 3.5% a year earlier, signalling a recovery from earlier stress.
The analysis
This is an Asset quality / margins event. For lenders the headline profit is the least informative line. Slippages, credit cost and margin direction determine whether the quarter is repeatable.
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