Micro-loans lender CreditAccess Grameen's Q4 profit soars to 
397 crore
Microfinance bank CreditAccess Grameen Ltd reported a 33.9 percent year-on-year (YoY) growth in net profit at 
397 crore for the final quarter that finished March 31, 2024.
397 crore for the final quarter that finished March 31, 2024.
Net revenue Income – NII, which is the modular difference between the interest income a bank procures from its loaning exercises & the interests amount it pays to contributors, hopped 42.3 percent, coming at 881 crore against 619.2 crore in the comparing quarter of FY23.
881 crore against 619.2 crore in the comparing quarter of FY23.
Gross non-performing asset - GNPA remained at 1.18 percent in the March quarter against 0.97 percent in the December quarter. Net NPA came at 0.35 percent against 0.29 percent quarter-on-quarter. In financial terms, net NPA remained at 303.7 crore against 219.7 crore quarter-on-quarter, while net NPA came at 90.1 crore against 65.7 crore quarter-on-quarter.
303.7 crore against 219.7 crore quarter-on-quarter, while net NPA came at 90.1 crore against 65.7 crore quarter-on-quarter.
The board has pronounced a one-time final dividend of 10 per share (11 percent profit payout proportion), liable to investors’ endorsement for projects at the resulting yearly comprehensive meeting of the organization towards Silver Jublee celebration.
10 per share (11 percent profit payout proportion), liable to investors’ endorsement for projects at the resulting yearly comprehensive meeting of the organization towards Silver Jublee celebration.
Regarding this, Udaya Kumar Hebbar, the Managing Director of CreditAccess Grameen says, “We ended the FY24, completing 25 years of our operations, on a solid footing having registered 27.0% year-on-year growth in the AUM to ? 26,714 crore. The growth was well supported by a healthy increase in the customer base by 15.3% year-on-year to 49.18 lakh. We added over 13.6 lakh customers during FY24, maintaining our monthly average customer addition run-rate of 1.1 lakh.”
