CreditAccess Grameen Q4 Review - Higher Credit Costs Continued Amid Covid-19 Led Restrictions: KRChoksey
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KRChoksey Research Report
CreditAccess Grameen Ltd.'s profit after tax stood at Rs 56.3 crore (86.8% YoY) including the impact of provisioning.
The company continued to focus on its early risk recognition and provisioning policy.
Earnings after minority interest stood at Rs 76.9 crore (172.7% YoY)
During H2 FY21, it has started disbursing loans to new customers; the company’s gross loan portfolio stood at Rs 135.9 billion (13% YoY, 10% QoQ).
It has added 2.92 lakh borrowers in Q4 FY21; 70-80% of these borrowers cater to essential business services.
We expect strong business growth in the post Covid-19 scenario.
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