CreditAccess Grameen Q1 results: Net profit gains 14% to Rs 398 crore, NPAs worsen

The shares of the company closed for trading on BSE for July 19 at Rs 1285.50, 0.92 percent down.

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CreditAccess Grameen, the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), on July 19 reported a net profit of Rs 398 crore for Q1FY25, 14 percent higher than the corresponding quarter last year. The company's net interest income (NII) increased by 24.8 percent YoY from Rs 763 crore to Rs 952 crore.

The net interest margin of the company stayed flat at 13 percent YoY.

The micro lender saw its gross non-performing assets (GNPA) deteriorating by 56 basis points (bps) on a YoY basis and stood at 1.46 percent. NNPA of the lender also deteriorating by 18 bps and stood at 0.45 percent.

The borrower base of CreditAccess Grameen grew by 12.7 percent YoY from 44.23 lakh to 49.84 lakh. The micro lender's total branches stood at 1,976 compared ro 1,826 in the corresponding quarter last year.

The shares of the company closed for trading on BSE for July 19 at Rs 1,285.50, 0.92 percent down.