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CreditAccess Grameen Ltd Q4 FY20 consolidated PAT slips to Rs. 28.84 crore

Posted On: 2020-05-30 22:53:59


CreditAccess Grameen Ltd has reported financial results for the period ended March 31, 2020.

Financial Results (Q4 FY19-20) - QoQ Comparison

The company has reported total income of Rs.482.12 crores during the period ended March 31, 2020 as compared to Rs.453.56 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.28.84 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.107.99 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.1.99 for the period ended March 31, 2020 as compared to Rs.7.44 for the period ended December 31, 2019.

FinancialsQ4 FY19-20Q3 FY19-20% Change
Total Income₹ 482.12 crs₹ 453.56 crsUp Tick 6.3%
Net Profit₹ 28.84 crs₹ 107.99 crsDown Tick -73.29%
EPS₹ 1.99₹ 7.44Down Tick -73.25%

Financial Results (Q4 FY19-20) - YoY Comparison

The company has reported total income of Rs.482.12 crores during the period ended March 31, 2020 as compared to Rs.336.44 crores during the period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.28.84 crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.76.31 crores for the period ended March 31, 2019.

The company has reported EPS of Rs.1.99 for the period ended March 31, 2020 as compared to Rs.5.72 for the period ended March 31, 2019.

FinancialsQ4 FY19-20Q4 FY18-19% Change
Total Income₹ 482.12 crs₹ 336.44 crsUp Tick 43.3%
Net Profit₹ 28.84 crs₹ 76.31 crsDown Tick -62.21%
EPS₹ 1.99₹ 5.72Down Tick -65.21%

Financial Results (12 months ended FY 19-20) - YoY Comparison

The company has reported total income of Rs.1705.48 crores during the 12 months period ended March 31, 2020 as compared to Rs.1283.32 crores during the 12 months period ended March 31, 2019.

The company has posted net profit / (loss) of Rs.333.55 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.321.76 crores for the 12 months period ended March 31, 2019.

The company has reported EPS of Rs.23 for the 12 months period ended March 31, 2020 as compared to Rs.23.14 for the 12 months period ended March 31, 2019.

FinancialsYear Ended FY19-20Year Ended FY18-19% Change
Total Income₹ 1705.48 crs₹ 1283.32 crsUp Tick 32.9%
Net Profit₹ 333.55 crs₹ 321.76 crsUp Tick 3.66%
EPS₹ 23₹23.14Down Tick -0.61%

Commenting on the performance, Mr. Udaya Kumar Hebbar, Managing Director and CEO of CreditAccess Grameen, said, "We recorded strong business growth, with our standalone loan portfolio up 38.2% YoY to INR 9,896 crore and borrower base up 17.6% YoY to 29.1 lakh borrowers owing to large number of branches opened during the year. This was further augmented by MMFL acquisition, leading to consolidated loan portfolio growth of 67.6% YoY to INR 11,996 crore and 64.2% YoY growth in our borrower base to 40.1 lakh. Our consolidated branch network now stands at 1,393 branches, which includes 929 CAGL branches and 464 MMFL branches. With this transaction, we are the largest microfinance company in India, with leadership position in mature microfinance states of Karnataka, Maharashtra and Tamil Nadu, whilst building our presence across pan India. Our expanded branch network, seasoned manpower and experienced management team will help us drive our growth over coming years.

In the wake of COVID-19 pandemic affecting India's macroeconomic activities beginning from March 2020, we took necessary measures to ensure well-being and safety of our employees and customers, while abiding by all regulatory guidelines. We continued to maintain customer connect and proactive communication. We earmarked INR 5 crore funds under CSR to provide COVID-19 related support in form of supply of PPE kits, medical kits and grocery kits to local police stations, municipal / Asha workers. Our employees have contributed INR 53.6 lakh to PM CARES Fund as token of their solidarity.

With over 98% of our branches being operational with over 90% staff as on date, we are looking forward to resuming our collections & disbursements from 1st June onwards. Over 70% of our customers are positive about not opting for further moratorium, and about 20% of them wanted a few more weeks to start the transactions. This leaves close to 10% of our borrowers who might opt for further moratorium. We are predominantly present in rural markets which have always displayed strong resilience to external disturbances. Majority of our customers are engaged in essential activities, which have been allowed to function post 20th April. Further, various relief measures were taken by government to support people at bottom of the pyramid. Hence, we believe our customers to display faster recovery as regards their business activities and economic transactions. Our near-term focus will be on ensuring healthy liquidity position and timely collections from field, which will help us provide additional financial support to our borrowers. All our lenders have been supportive, and we are confident of raising sufficient funds from domestic and international sources in the coming months. With our robust operating model, proven execution capabilities, strong customer relationships and strong balance sheet with continued support from lenders, we are well-positioned to demonstrate faster recovery and get back on our growth trajectory."

Shares of CreditAccess Grameen Ltd was last trading in BSE at Rs.399.05 as compared to the previous close of Rs. 387.8. The total number of shares traded during the day was 3349 in over 470 trades.

The stock hit an intraday high of Rs. 401.9 and intraday low of 372. The net turnover during the day was Rs. 1297833.


Source: Equity Bulls

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