CreditAccess Grameen - Accelerated Provisioning Affects Bottom-Line In Q3: KRChoksey
Customers count Indian rupee banknotes while sitting in a store (Photographer Dhiraj Singh /Bloomberg)

CreditAccess Grameen - Accelerated Provisioning Affects Bottom-Line In Q3: KRChoksey

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

KRChoksey Report

CreditAccess Grameen Ltd.’s Q3 FY21 loss reported at Rs 79.5 crore (down 173.7% YoY/down 193.1% QoQ); as management has taken stringent measures with overall credit costs at approximately 2.5% for the quarter.

Gross loan portfolio reported at Rs 123.2 billion (39% YoY, 10% QoQ) for Q3 FY21 and number of borrowers grew at 39.1 lakh (41% YoY, 1% QoQ) as against 38.8 lakh/27.7 lakh as on September 2020/December 2019, respectively.

Net interest income reported at Rs 3.03 billion (up 0.8% YoY/down 8.3% QoQ) due to lower pricing in the industry while there was a growth in non-interest income by up 116.2% YoY/up 53.3% QoQ to Rs 14.7 crore.

Click on the attachment to read the full report:

KRChoksey CreditAccess Grameen Result Update.pdf

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