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Satin Creditcare Network Ltd reports consolidated PAT of Rs. 15.52 crore in Q2
Posted On : 2020-11-13 20:27:05( TIMEZONE : IST )
Satin Creditcare Network Ltd has reported financial results for the period ended September 30, 2020.
Financial Results (Q2 FY20-21) - QoQ Comparison
The company has reported total income of Rs.340.53 crores during the period ended September 30, 2020 as compared to Rs.310.55 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.15.52 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.12.76 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.2.58 for the period ended September 30, 2020 as compared to Rs.2.34 for the period ended June 30, 2020.
| Financials | Q2 FY20-21 | Q1 FY20-21 | % Change |
| Total Income | ₹ 340.53 crs | ₹ 310.55 crs |  9.65% |
| Net Profit | ₹ 15.52 crs | ₹ 12.76 crs | 21.63% |
| EPS | ₹ 2.58 | ₹ 2.34 | 10.26% |
Financial Results (Q2 FY20-21) - YoY Comparison
The company has reported total income of Rs.340.53 crores during the period ended September 30, 2020 as compared to Rs.366.41 crores during the period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.15.52 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.54.32 crores for the period ended September 30, 2019.
The company has reported EPS of Rs.2.58 for the period ended September 30, 2020 as compared to Rs.9.93 for the period ended September 30, 2019.
| Financials | Q2 FY20-21 | Q2 FY19-20 | % Change |
| Total Income | ₹ 340.53 crs | ₹ 366.41 crs |  -7.06% |
| Net Profit | ₹ 15.52 crs | ₹ 54.32 crs | -71.43% |
| EPS | ₹ 2.58 | ₹ 9.93 | -74.02% |
Financial Results (6 months ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.651.08 crores during the 6 months period ended September 30, 2020 as compared to Rs.719.56 crores during the 6 months period ended September 30, 2019.
The company has posted net profit / (loss) of Rs.28.29 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.95.17 crores for the 6 months period ended September 30, 2019.
The company has reported EPS of Rs.4.93 for the 6 months period ended September 30, 2020 as compared to Rs.17.67 for the 6 months period ended September 30, 2019.
| Financials | Half-Year Ended FY20-21 | Half-Year Ended FY19-20 | % Change |
| Total Income | ₹ 651.08 crs | ₹ 719.56 crs | -9.52% |
| Net Profit | ₹ 28.29 crs | ₹ 95.17 crs | -70.27% |
| EPS | ₹ 4.93 | ₹17.67 | -72.1% |
Commenting on the performance, Mr. HP Singh, Chairman & Managing Director of Satin Creditcare Network Limited, said "During Q2FY21 we witnessed progressive recovery playing out across sectors due to CoVID-19 related concerns moderating with each passing day. Also, lifting up of lockdown restrictions in major parts of the country coupled with festivals round the corner makes demand scenario look promising across sectors. Micro-Finance being a part of this ecosystem is also expected to benefit from this positive momentum.
As major impact of pandemic and lockdowns was felt in quarter one of FY21, we believe that quarter two looked quite positive on various KPIs. We saw significant improvement both in terms of our disbursements as well as our collection activities. Our disbursements for the quarter stood at Rs. 632 crores as against Rs. 54 crores in Q1FY21 which is a big positive. Also, our collection efficiency improved from 62% in June to 94% at the end of September 2020. We expect this momentum to continue in the coming quarters.
We have also showcased some improving trajectory in our portfolio quality and have managed to keep our GNPA in check despite challenging economic scenario. We endeavour on achieving steady growth without dampening our portfolio quality.
Going forward we expect to regain our growth trajectory and believe coming quarters to be much better and robust both on financial and operational aspect."
Shares of Satin Creditcare Network Ltd was last trading in BSE at Rs.62.15 as compared to the previous close of Rs. 59.2. The total number of shares traded during the day was 21954 in over 129 trades.
The stock hit an intraday high of Rs. 62.15 and intraday low of 60.9. The net turnover during the day was Rs. 1363067.
