Satin Creditcare Network Limited (NSE: SATIN) is a non-banking financial company (NBFC) based in India. The company provides microfinance loans, primarily to women from low-income households in both rural and urban areas across India. Satin Creditcare’s services include group loans, individual loans, enterprise loans, agriculture loans, and education loans.
In terms of earnings, Revenue from Operations for Q3 FY23 was ₹415.81 crore, a 20% increase from ₹346.14 crore in the same period last year. The Interest Income, generated a total of ₹307.08 Crore in revenue, or 74% of the total revenue. The Interest Income almost remained flat from the previous year. The Net gain on derecognition of financial instruments accounts for 21.8% of revenue in Q3 FY23. A total of ₹90.8 Crore were contributed from this gain, with a sharp incline of 514% from the same quarter last year. The Fees & Commission Income, which reported a revenue of ₹17.66 Crore, accounted for the 4.2% of the overall Revenue.
The Consolidated Net Profit after tax was ₹57.8 crore, up 75% from ₹33.5 crore in the same quarter last year. This quarter’s earnings per share was ₹7.04.
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