Satin Creditcare Network Ltd (SCNL) reported a 33 per cent y-o-y increase in fourth-quarter standalone net profit at ₹125 crore against ₹94 crore in the year ago period.

Interest income of the NBFC-MFI (non-banking finance company – microfinance company) jumped about 55 per cent y-o-y to ₹492 crore (₹318 crore in the year-ago quarter).

Net gain on de-recognition of financial instruments rose 39 per cent y-o-y to ₹84 crore (₹61 crore).

During the quarter, the company transferred certain loans, which are not in default, through direct assignment aggregating ₹946.51 crore (book value). Interest spread recognised in P&L during the quarter was ₹86.42 crore.

Finance costs shot up 59 per cent y-o-y to ₹233 crore ( ₹146 crore). Provision for impairment of financial instruments soared about 79 per cent y-o-y to ₹64 crore (₹36 crore).

On-book Gross Non-Performing Assets stood at 2.49 per cent amounting to ₹198 crore as on 31st March 2024 as compared to 3.28 per cent as on 31st March 2023 amounting to ₹185 crore.

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The average loan ticket size for FY24 stood at ₹47,000, up 9 per cent y-o-y. Assets under management increased by 34 per cent y-o-y to ₹10,593 crore. The ratio of secured to unsecured assets stood at 12 per cent : 88 per cent.

During the quarter under review, the company made an investment of ₹24.99 crore in Satin Housing Finance Ltd (a wholly owned subsidiary) by subscribing to 81,06,350 equity shares of ₹10 each at an issue price of ₹30.84 per share (including premium of ₹20.84) offered on rights basis.

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