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 | Company Business News

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.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.