CreditAccess Grameen Limited reported a consolidated net profit of ₹493 crore for Q1 FY27, a 7-fold increase over ₹60.2 crore in the same quarter last year.
The turnaround is underpinned by a sharp drop in credit costs, which fell 62.8% YoY to ₹212.5 crore, as ground-level collections stabilised and legacy over-indebtedness cleared from the book.
Assets Under Management grew 16.4% YoY to ₹30,319 crore, while total income rose 21.9% to ₹1,784 crore, indicating the lender is growing its loan book alongside improving repayment behaviour.
Following the results, the board approved a fresh ₹3,000 crore fundraising plan via non-convertible debentures (NCDs) to expand the rural lending book.
The results come after two years of asset quality headwinds across the microfinance sector, which had forced lenders to build heavy provisioning shields against potential defaults.
