CreditAccess Grameen posts four-fold jump in profit
CreditAccess Grameen posted a four-fold increase in Q2 net profit to Rs 501.57 crore, driven by strong net interest income growth, lower credit costs, and improved asset quality.
Microfinance lender CreditAccess Grameen on Thursday reported a four-fold year-on-year surge in its standalone net profit to Rs 501.57 crore for the quarter ended September. Healthy growth in net interest income and fall in credit costs boosted the profit. It had posted a net profit of Rs 125.81 crore in the year-ago period. Sequentially, the net profit rose marginally from Rs 493.39 crore in Q1FY27, reflecting the impact of the rise in credit costs.
