Creditaccess Grameen Q2 Results Live: Profit Falls by 46.39% YOY | Company Business News-OxBig News Network

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