CreditAccess Grameen Q1 Results: Net Profit Rises 15% To Rs 398 crore
The company's CEO Ganesh Narayanan expressed confidence of achieving guidance for FY25.
(Source: Ibrahim Rifath on Unsplash)
CreditAccess Grameen Ltd. reported a 15% uptick in its net profit on a yearly basis for the first quarter of this financial year.
The microfinance company reported a bottom line of Rs 398 crore in the quarter ended June, compared with Rs 346 crore in the previous quarter, according to its stock exchange notification.
The company's revenue stood at Rs 1,513 crore, year-on-year versus Rs 1,171 crore in fiscal 2024.
"We are confident of achieving our annual performance guidance for the ongoing financial year," Ganesh Narayanan, chief executive officer of CreditAccess Grameen, said.
The scrip closed 0.98% lower, at Rs 1,284.75 apiece, compared with a 1.09% decline in the NSE Nifty 50. It has grown 42.53% on a year-to-date basis and has declined 1.72% in the last 12 months, according to the NSE data.
