CreditAccess Grameen’s shares fell by over 5.35% in early trading today, reaching ₹929.00 after the company reported a significant decline in both revenue and net income for the second quarter of FY25. The company’s financial performance for the quarter ending September 2024 saw notable decreases across key metrics.
Key Financial Results (Q2 FY25 vs Q2 FY24):
- Revenue: ₹5.49 billion, down 25% from ₹7.32 billion
- Net income: ₹1.86 billion, down 46% from ₹3.44 billion
- Profit margin: 34%, down from 48%, reflecting the impact of lower revenue
- Earnings per share (EPS): ₹11.67, down from ₹21.82
The sharp decline in revenue and profit margins has raised concerns among investors, leading to a 5.35% drop in the company’s share price as of 9:26 AM.
CreditAccess Grameen’s results highlight the challenges faced during the quarter, with reduced revenue contributing to a lower profit margin and a significant drop in EPS. Investors will be watching closely for the company’s plans to navigate these challenges and regain growth momentum in the coming quarters.
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