CreditAccess Grameen Q4 net profit zooms 216.83% at Rs 72.27 cr
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The company reported standalone net profit of Rs 72.27 crore for the quarter ended March 31, 2021 as compared to Rs 22.81 crore in the same period last year, registering a year-on-year growth of 216.83 per cent. Net revenue of the company rose substantially by 31.71 per cent at Rs 607.10 crore in January-March quarter of this fiscal as against Rs 460.92 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 22.62 per cent to Rs 316.97 crore from Rs 258.49 crore in year ago period. Other Income grew by 1408.33 per cent at Rs 1.81 crore versus (Mar'20 Rs 0.12 crore).
Operating Profit surged by 43.32 per cent to Rs 290.13 crore as against Rs 202.43 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 8.81 per cent in March quarter. Interest grew by 10.96 per cent y-o-y to Rs 186.02 crore, while Taxation increased by 285.35 per cent at Rs 27.09 crore (Mar'20 Rs 7.03 crore).
