Microfinance company Satin Creditcare Network on Saturday said net profit jumped 59% year-on-year to Rs 94 crore in the quarter to March 2023.
The rise in net profit was buoyed by improvement in asset quality and business expansion. Net interest income rose 39% at Rs 251 crore.
“This is our highest ever quarterly profit, resulting in return on assets (RoA) of 4.9% and return on equity (RoE) at 20%. We are optimistic about maintaining this profitability trend,” HP Singh, chairman at Satin Creditcare Network, told.
Source:
Economic Times
