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
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1433.05 | 1490.08 | -3.83% | 1226.16 | +16.87% |
| Selling/ General/ Admin Expenses Total | 181.58 | 179.66 | +1.07% | 150.05 | +21.01% |
| Depreciation/ Amortization | 17.19 | 14.35 | +19.79% | 12.28 | +39.98% |
| Total Operating Expense | 710.08 | 459.4 | +54.57% | 345.24 | +105.68% |
| Operating Income | 722.97 | 1030.68 | -29.86% | 880.92 | -17.93% |
| Net Income Before Taxes | 251.99 | 534.74 | -52.88% | 466.77 | -46.01% |
| Net Income | 186.06 | 397.66 | -53.21% | 347.04 | -46.39% |
| Diluted Normalized EPS | 30.97 | 32.92 | -5.94% | 26.14 | +18.45% |
