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CreditAccess Grameen Ltd's Q3 net profit surges 85 pct YoY to Rs 217 cr Credit Access Grameen

CreditAccess Grameen Ltd's Q3 net profit surges 85 pct YoY to Rs 217 cr

India Blooms News Service | @indiablooms | 08 Feb 2023, 10:43 am

Bengaluru: CreditAccess Grameen Limited, a non-banking financial company-Micro Finance Institution (NBFC-MFI), on Tuesday announced its unaudited and limited reviewed financial performance for the third quarter and nine months of the period ended 31 December 2022 where it registered a total income of Rs. 909.72 crores.

It is an increase by 31.9 percent YoY.

The company’s net interest income (NII) increased by 37.7% YoY fromINR412.0 croreto INR 567.4crore.

The company recorded its pre-provision operating profit (PPOP) increase by 38.7 by YoY from INR 273.5crore to INR 379.5crore.

The company said its impairment of financial instruments declined by 24.2 percent YoYfrom INR 117.9 crore to INR 89.4 crore.

The company said its Profit After Tax (PAT) increased by 85.3 percent YoYfrom INR 117.0crore to INR 216.8 crore.