CreditAccess Grameen reported nearly a five-fold jump in net profit, reaching Rs 493 crore. This strong performance was supported by better loan repayments and improved asset quality.
Pre-provision operating profit increased by 34 percent, driven by a 22 percent rise in income. Meanwhile, credit costs saw a sharp decline of 63 percent year-on-year.
Assets under management (AUM) grew by 16.4 percent, supported by the addition of new customers.
economictimes