CreditAccess Grameen Q1FY21; consolidated profit declines by ~22% yoy

The company recorded a consolidated profit of ~Rs74cr in Q1FY21.

Aug 01, 2020 05:08 IST India Infoline News Service

Quarterly Results
CreditAccess Grameen Ltd announced its Q1FY21 results on Aug 1, 2020. Consolidated net revenue of CreditAccess Grameen in Q1FY21 stood at Rs619.29cr, which rose by 64.44% yoy from Rs376.6cr in Q1FY20. Net interest income grew by 55.2% yoy from Rs246.9cr in Q1FY20 to Rs383.2cr in Q1FY21. Gross loan portfolio for the company grew by 53.9% yoy from Rs7,619 crore in Q1FY20 to Rs11,724 crore in Q1FY21.

EBITDA stood at Rs342.61cr in Q1FY21 which rose by  24.62% yoy. For Q1FY20, it had posted EBITDA of Rs274.92cr. EBITDA margin as of Q1FY21 was at 55.32% which declined by 17.68% yoy against the same quarter, the previous year. The total COVID-19 additional provisioning buffer was Rs245.6 crore at the end of Q1FY21 (2.17% of loan portfolio).

The consolidated net profit in Q1FY21 came in at Rs74.62cr which declined by 22.13%, as compared to Q1FY20, when it had reported Rs95.83cr. The net profit margin in Q1FY21 came in at 12.05% which declined by 13.40% yoy. The net profit margin for Q1FY20 was at 25.45%. On asset quality front, at the end of Q1FY21, company reported gross NPA of 1.62% while net NPA was 0.00%.

On Friday, the stock closed at Rs515 with loss of 1.69% on BSE.

Particulars Q1FY21 (Rs in cr) Q1FY20 (Rs in cr) % VAR
Net Revenue 619.29 376.60 64.44
Operating Profit 342.61 274.92 24.62
Net Profit 74.62 95.83 -22.13
EBITDAM% 55.32 73 -17.68
PATM% 12.05 25.45 -13.40

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