Centrum Broking: Satin Creditcare Q2 Review - PPoP Beat Led By Other Income, Asset Quality Key
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Centrum Broking Report
Satin Creditcare Network Ltd.’s profit after tax was a miss led by higher tax rate but results were better on a pre-provision operating profit level led by higher other income.
Net interest income and net interest margin were in-line though asset under management growth was slightly lower at 5.1% YoY.
Other income was ahead of estimate as assignment income was higher at Rs 439 million.
The company is prioritising collections over disbursements as they have reached 57%/35% of year ago levels respectively.
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