Creditaccess Grameen Q2 Results Live: Profit Falls by 46.39% YOY

Creditaccess Grameen Q2 Results Live: Revenue increased by 16.87% YoY & profit decreased by 46.39% YoY

Livemint
Published26 Oct 2024, 10:13 AM IST
Creditaccess Grameen Q2 Results Live
Creditaccess Grameen Q2 Results Live

Creditaccess Grameen Q2 Results Live : Creditaccess Grameen declared its Q2 results on October 25, 2024, revealing a topline growth of 16.87% year-over-year. However, the company faced a significant profit decline of 46.39% compared to the same quarter last year.

In contrast to the previous quarter, the revenue saw a decline of 3.83%, while profit dropped by 53.21%, raising concerns among analysts and investors alike.

The company's Selling, General & Administrative expenses increased by 1.07% quarter-on-quarter and surged by 21.01% year-over-year, indicating rising operational costs.

Operating income also took a hit, falling by 29.86% quarter-on-quarter and decreasing by 17.93% year-over-year, putting further pressure on the company's profitability.

Earnings per share (EPS) stood at 30.97 for Q2, reflecting an increase of 18.45% year-over-year, which could provide some relief to shareholders amidst the broader profit decline.

Over the past week, Creditaccess Grameen has delivered a -6.07% return, with a staggering -33.44% return over the last six months and a -38.38% year-to-date return, sparking concerns about its market performance.

The company currently boasts a market capitalization of 15,687.5 crore, with a 52-week high of 1,796 and a low of 974.55, showcasing significant volatility in its stock price.

As of October 26, 2024, of the 17 analysts covering Creditaccess Grameen, 1 has issued a Sell rating, 6 have given a Buy rating, and 10 analysts are recommending a Strong Buy, indicating mixed sentiment in the market.

The consensus recommendation as of October 26, 2024, remains a Strong Buy, suggesting that despite recent challenges, analysts see potential for recovery and growth in the future.

Creditaccess Grameen Financials

PeriodQ2Q1Q-o-Q GrowthQ2Y-o-Y Growth
Total Revenue1433.051490.08-3.83%1226.16+16.87%
Selling/ General/ Admin Expenses Total181.58179.66+1.07%150.05+21.01%
Depreciation/ Amortization17.1914.35+19.79%12.28+39.98%
Total Operating Expense710.08459.4+54.57%345.24+105.68%
Operating Income722.971030.68-29.86%880.92-17.93%
Net Income Before Taxes251.99534.74-52.88%466.77-46.01%
Net Income186.06397.66-53.21%347.04-46.39%
Diluted Normalized EPS30.9732.92-5.94%26.14+18.45%
Stay updated on quarterly results with our results calendar

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₹186.06Cr
₹1433.05Cr
First Published:26 Oct 2024, 10:13 AM IST
Business NewsCompaniesCompany ResultsCreditaccess Grameen Q2 Results Live: Profit Falls by 46.39% YOY

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