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Yes Securities Report
CreditAccess Grameen Ltd. delivered an in-line profit after tax in Q3 FY23, that reflected stronger gross loan portfolio growth, higher net interest net interest income/pre-provision operating profit and still elevated credit cost.
The texture of disbursements remains enthusing, with accelerating pace of new borrower addition (significant new-to-credit within) mainly in newer markets and loan ticket/exposure per borrower under check.
The company delivered return on asset/return on equity of 4.6%/18.8% (material improvement over Q2 FY23), despite continuance of significant write-off of residual Covid-related stress.
With the delivery of enhanced outcomes in Q3, CreditAccess Grameen reiterated its annual consolidated performance guidance of 24-25% gross loan portfolio growth and 4-4.2% RoA/16-18% RoE.
The company has taken requisite price actions to factor relatively moderate experience of collections (delinquency flow forward) in Mahindra and Mahindra Financial Services Ltd.'s portfolio.
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