This is the fifth consecutive quarterly loss for the lender, which breached various financial covenants in respect of borrowings amounting to Rs 3,567 crore as at June 30, 2025. This means these borrowings are repayable on demand.
It’s net interest margin was at 10.29 per cent as compared with 11.64 per cent in the year ago period.
The company has obtained extension from some lenders in respect Rs 2570 crore while it is in discussion with the remaining lenders to obtain similar extensions.
“The company’s ability to continue as a going concern is dependent on obtaining waivers from demand by lenders for immediate repayment of borrowings for a period of at least twelve months from the balance sheet; and / or securing sufficient funds through other sources such as (i) successful sale of loans; (ii) balance call money of Rs 400 crore from partly paid up rights issue,” managing director Devesh Sachdev said, in the statement furnished to stock exchanges.
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The lender’s assets under management stood at Rs 7658 crore at the end of June, came down from Rs 12192 crore in a year.Gross non performing assets ratio remained steady at 5.43 per cent.
Satin Creditcare reports 57% fall in Q1 profit
Microfinance company Satin Creditcare Network reported a 57 per cent fall in first quarter consolidated net profit at Rs 45 crore as compared with Rs 105 crore in the year ago period.
It’s pre provision operating profit was at Rs 201 crore against Rs 213 crore earlier.
The lender’s assets under management stood at Rs 12499 crore at the end of June, falling from Rs 12784 crore a year back.
On a standalone basis, the AUM stood at Rs 20956 crore. Gross non performing assets ratio stood at 3.7 per cent.
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