U.y. Fincorp Q2 Results 2024 on 17 Nov, 2024: profit falls by 93.23% YOY, profit at ₹3.47 crore and revenue at ₹45.24 crore
U.y. Fincorp Q2 Results 2024 on 17 Nov, 2024: Revenue increased by 55.45% YoY & profit decreased by 93.23% YoY, profit at ₹3.47 crore and revenue at ₹45.24 crore.
U.y. Fincorp Q2 Results 2024:U.y. Fincorp declared their Q2 results on 14 Nov, 2024, revealing a mixed performance as the company experienced a significant decrease in profit despite a notable increase in revenue. The company reported a profit of ₹3.47 crore, reflecting a staggering 93.23% decrease year-over-year, while the revenue surged by 55.45% to ₹45.24 crore.
Comparing to the previous quarter, U.y. Fincorp's revenue grew by 26.95%, however, the profit showed a decline of 31.84%. This trend raises concerns about the company's ability to manage its costs effectively amidst rising revenues.
The Selling, General & Administrative expenses saw an increase of 6.68% quarter-over-quarter and 6.25% year-over-year, contributing to the diminishing profit margins. The operating income also faced challenges, declining by 12.18% from the last quarter, although it showed a remarkable increase of 215.52% year-over-year.
Earnings per share (EPS) for Q2 stood at ₹0.18, marking a significant drop of 94.07% compared to the same quarter last year, indicating a tough period for shareholders.
As of now, U.y. Fincorp holds a market capitalization of ₹584.81 crore, with its stock trading in a 52-week range between ₹39.4 and ₹26.5. Investors will be closely watching the company's next moves to recover from this downturn.
U.y. Fincorp Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 45.24 | 35.63 | +26.95% | 29.1 | +55.45% |
| Selling/ General/ Admin Expenses Total | 0.32 | 0.3 | +6.68% | 0.3 | +6.25% |
| Depreciation/ Amortization | 0.09 | 0.03 | +182.58% | 0.04 | +112.11% |
| Total Operating Expense | 39.85 | 29.5 | +35.09% | 33.77 | +18.01% |
| Operating Income | 5.39 | 6.14 | -12.18% | -4.67 | +215.52% |
| Net Income Before Taxes | 5.8 | 6.5 | -10.77% | 68.96 | -91.59% |
| Net Income | 3.47 | 5.08 | -31.84% | 51.17 | -93.23% |
| Diluted Normalized EPS | 0.18 | 0.27 | -32.94% | 3.1 | -94.07% |
Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.