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    Home»Merger and Acquisition»CreditAccess Grameen net profit of Rs 75 crore in Q1
    Merger and Acquisition

    CreditAccess Grameen net profit of Rs 75 crore in Q1

    Finance KhabarBy Finance KhabarAugust 2, 2020No Comments1 Min Read
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    New Delhi: Integrated net profit of small lending company CreditAccess Grameen Ltd fell by more than 22 percent to Rs 75 crore in the first quarter of the current financial year. In the April-June quarter of the previous financial year 2019-20, the company made a profit of Rs 96 crore.

    The company said in a release that its net income from interest increased by 55.2 percent to Rs 383.20 crore during this period. Whereas the income from interest of the company was Rs 246.90 crore in the same period last year. The company’s gross loan portfolio grew by 53.9 percent to Rs 11,724 crore. Whereas in the year-ago period it was Rs 7,619 crore.

    The number of customers of the company also increased from 25.6 lakh to 40.1 lakh. Uday Kumar Hebbar, managing director and CEO of the company said, “We have recorded strong business growth.” Our loan portfolio grew by 27 percent to Rs 9,680 crore on a single basis. The acquisition of Mudra Micro Finance Limited has further enhanced this.

    CreditAccess Grameen
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