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Published on 22/01/2020 5:12:32 PM | Source: Dion Global Solutions Ltd

CreditAccess Grameen Q3 net profit up 8.27% at Rs 107.99 cr

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The company reported standalone net profit of Rs 107.99 crore for the quarter ended December 31, 2019 as compared to Rs 99.74 crore in the same period last year, registering a year-on-year growth of 8.27 per cent.

Net revenue of the company rose substantially by 29.45 per cent at Rs 452.04 crore in October-December quarter of this fiscal as against Rs 349.19 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 84.51 per cent to Rs 156.67 crore from Rs 84.91 crore in year ago period. Other Income dipped by 7.32 per cent at Rs 1.52 crore versus (Dec'18 Rs 1.64 crore).

Operating Profit surged by 11.76 per cent to Rs 295.37 crore as against Rs 264.28 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 13.66 per cent in December quarter.

Interest grew by 32.39 per cent y-o-y to Rs 145.88 crore, while Taxation decreased by 29.72 per cent at Rs 37.93 crore (Dec'18 Rs 53.97 crore).