Satin Creditcare Q2 Results: Profit slumps 60% to Rs 42 crore
Satin's consolidated net profit was at Rs 42 crore in the September quarter as compared with Rs 103 crore in the year-ago period.
Operating profit for the quarter however was 16.5% higher at Rs 191 crore.
«Looking at the current uncertain time, our approach prioritizes quality over quantity, ensuring a sustainable trajectory. Mindful of the existing industry landscape and the challenges that have emerged in the recent months, we have revised our guidance for FY25 to reflect a more measured outlook,» chairman HP Singh said.
The NBFC-MFI revised its annual asset management growth projection to 8-10% from the earlier projection of 25%. It raised the credit cost to 4.5-5% from 2.7%.
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