CreditAccess Grameen Jumps Most In Four Months As Q4 Profit Surges 34%
The stock rose as much as 7.23% during the day to Rs 1,523.40 apiece on the NSE.
Shares of CreditAccess Grameen Ltd. rose over 7% after the microfinance institution's consolidated net profit surged 34% to Rs 397 crore in the fourth quarter of financial year 2024.
CreditAccess Q4 Earnings Highlights (Consolidated, YoY)
Total income up 37% at Rs 1,459 crore vs Rs 1,066 crore.
Net profit up 34% at Rs 397 crore vs Rs 296 crore.
Board recommends a one-time final dividend of Rs 10 per share.
CreditAccesss' stock rose as much as 7.23%, the highest jump since Jan. 5., during the day to Rs 1,523.40 apiece on the NSE. It was trading 1.54% higher at Rs 1,442.65 per share, compared to a 0.18% advance in the benchmark Nifty 50 at 1:12 p.m.
The share price has fallen 9.49% on a year-to-date basis but risen 45.97% in the last 12 months. The total traded volume so far in the day stood at 8.1 times its 30-day average. The relative strength index was at 47.19.
Nineteen out of the 20 analysts tracking the company have a 'buy' rating on the stock and one recommends 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 27.6%.
