CreditAccess Grameen Q2 net profit zooms 120.46% at Rs 158.71 cr
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The company reported standalone net profit of Rs 158.71 crore for the quarter ended September 30, 2022 as compared to Rs 71.99 crore in the same period last year, registering a year-on-year growth of 120.46 per cent. Net revenue of the company rose substantially by 31.68 per cent at Rs 671.43 crore in July-September quarter of this fiscal as against Rs 509.91 crore in the corresponding period last year.
During July-September quarter, operating expenses increased by 5.57 per cent to Rs 236.47 crore from Rs 223.99 crore in year ago period. Other Income grew by 85.71 per cent at Rs 0.78 crore versus (Sep'21 Rs 0.42 crore). Operating Profit surged by 52.13 per cent to Rs 434.96 crore as against Rs 285.92 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 15.53 per cent in September quarter. Interest grew by 21.07 per cent y-o-y to Rs 221.26 crore, while Taxation increased by 90.49 per cent at Rs 47.85 crore (Sep'21 Rs 25.12 crore).
