India's Satin Creditcare up on near two-fold Q2 profit rise

Satin Creditcare Network

30/10/2023 06:36

** Shares of non-banking financial co Satin Creditcare
Network  SATR.NS  rise as much as 8.5% to 249.8 rupees
    ** Co said on Friday its Q2 consolidated net profit rose two
fold YoY to 1.07 bln rupees ($12.9 mln)
    ** SATR's AUM increased led by strong growth in disbursement
with healthy customer addition of 0.38 mln - JM Financial; AUM
grew 33% YoY to 101 bln rupees
    ** Adds, upward re-pricing of cost of funds offset by
increase in gross yields, leading to 139 bps QoQ NIM expansion
to 13.52%
    ** Over 2 mln shares change hands as of 11:57 a.m. IST, 3X
the 30-day moving average
    ** Stock last up 6.2%, taking YTD gain to 55.9%

($1 = 83.2600 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))