Shares of this small cap Non banking finance company (NBFC) gained 2.8 percent after the company announced they have achieved a milestone of Rs. 10,000 crore AUM.
At 2:10, 10th october shares of Satin Creditcare Network Ltd were trading at Rs. 237.55 per share up by 2.8 percent from previous close price of Rs. 231.10 per share.
Such bullish stock price movements were observed after the company through a regulatory filing on Bombay stock exchange (BSE) announced that Satin Creditcare Network Ltd along with its subsidiaries has crossed a milestone of Rs. 10,000 crores assets under management (AUM) on consolidated basis as on 30th september 2023.
Looking at the financials, company’s revenue increased by 34.1 percent to Rs. 462.34 crores in Q1FY24 from Rs. 344.77 crores in Q1FY23, in the same time period net profit went from loss of Rs. 209.7 crores to Rs. 87.87 crores. Company reported a net profit margin of 19.01 percent in the recent quarter.
Talking about the financial ratios, the company reported return on equity (ROE) of 0.31 percent and return on capital employed (ROCE) 8.37 percent in the last financial year.
Satin Creditcare Network Limited is a non-banking finance company (NBFC), licensed by the Reserve Bank of India. Satin Creditcare Network Limited is a microfinance institution (MFI) operating across 23 states and spanning over 82,000 villages, catering to the financial needs of underserved households at the base of the socioeconomic pyramid.
Written by: Vinit Israni
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
