Satin Creditcare Network reported its numbers with net loss widening sequentially.
In an interview to CNBC-TV18, HP Singh, Founder & MD of Satin Creditcare Network discussed the company's Q1 performance.
Singh said there has been a lag in repayments coming in and this is the last quarter where we are facing headwinds from demonetisation, so there is a loss in Q1.
"75 percent of our territories were impacted by demonetisation. This is considering Uttar Pradesh (UP), Madhya Pradesh, Punjab, Haryana, Maharashtra, if we consolidate all that, we have probably been impacted in about 75 percent of our geographies," he added.
Our collection efficiency even after farm loan waiver is 100 percent plus and that is what we need to maintain, said Singh.
We would like to raise capital not for growth because we have already given guidance, he added.
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