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Stock Report
CreditAccess Grameen Ltd Q1FY22 consolidated PAT slides to Rs. 22.49 crore
Posted On : 2021-08-11 18:53:52( TIMEZONE : IST )
CreditAccess Grameen Ltd. has reported financial results for the period ended June 30, 2021.
Financial Results (Q1 FY 2021-22) - QoQ Comparison
The company has reported total income of Rs.617.37 crores during the period ended June 30, 2021 as compared to Rs.726.20 crores during the period ended March 31, 2021.
The company has posted net profit / (loss) of Rs.22.49 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.76.87 crores for the period ended March 31, 2021.
The company has reported EPS of Rs.1.44 for the period ended June 30, 2021 as compared to Rs.3.59 for the period ended March 31, 2021.
| Financials | Q1 FY2021-22 | Q4 FY20-21 | % Change |
| Total Income | ₹ 617.37 crs | ₹ 726.20 crs |  -14.99% |
| Net Profit | ₹ 22.49 crs | ₹ 76.87 crs | -70.74% |
| EPS | ₹ 1.44 | ₹ 3.59 | -59.89% |
Financial Results (Q1 FY 2021-22) - YoY Comparison
The company has reported total income of Rs.617.37 crores during the period ended June 30, 2021 as compared to Rs.619.87 crores during the period ended June 30, 2020.
The company has posted net profit / (loss) of Rs.22.49 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.72 crores for the period ended June 30, 2020.
The company has reported EPS of Rs.1.44 for the period ended June 30, 2021 as compared to Rs.4.97 for the period ended June 30, 2020.
| Financials | Q1 FY2021-22 | Q1 FY2020-21 | % Change |
| Total Income | ₹ 617.37 crs | ₹ 619.87 crs | -0.4% |
| Net Profit | ₹ 22.49 crs | ₹ 72 crs | -68.76% |
| EPS | ₹ 1.44 | ₹ 4.97 | -71.03% |
Commenting on the performance, Mr. Udaya Kumar Hebbar, Managing Director and CEO of CreditAccess Grameen, said, "The first quarter was quite challenging due to resurgence of COVID with much higher intensity, causing large scale impact on human lives. This was followed by lockdowns across various states with high infection rates, impacting the business operations and livelihood activities of our customers. We decided to momentarily shift focus from growth to collections, employees', and customers' well-being. However, with improving operating conditions in later part of June and July, we witnessed strong improvement in monthly collections which increased to 91% at CA Grameen and 83% at MMFL. We resumed our business growth with disbursements of INR 1,259 crore in July, surpassing our overall disbursements during Q1 FY22 and addition of 66 new branches expanding our presence in newer markets.
We remain cautious of the possible third wave, however, with increasing vaccination throughout the country, we believe that the impact of virus on both businesses and personal lives will reduce going forward paving the way for back to normal course of business. We shall continue to capture the growth opportunity, being the largest and trusted microfinance institution in the country. With an improving business environment, opening of new branches, our strong liquidity, capital adequacy and balance sheet will help us to drive business growth over coming months, surpassing our last year's performance."
Shares of CreditAccess Grameen Ltd. was last trading in BSE at Rs. 605 as compared to the previous close of Rs. 619.25. The total number of shares traded during the day was 145090 in over 2012 trades.
The stock hit an intraday high of Rs. 618.65 and intraday low of 598.5. The net turnover during the day was Rs. 87672212.
