CreditAccess Grameen Shares Plunges 18% On NSE To 52 Week Low After Micro Lender's Delivers Net Loss ₹99.5 Crore

CreditAccess Grameen shares jumped from a cliff to tumble doown over 18 per cent on the NSE (National Stock Exchange), after the private lender in micro finance space declared their Q3 FY25 earnings, which revealed that lender reported a net loss of Rs 99.5 crore in quarter under review.

The shares of CreditAccess Grameen plunged to 52 week low level of Rs 750.20 per share after hitting the opening bell at Rs 850.00 per share on the Indian exchange with a decline of 7.26 per cent compared to closing bell level in last trading session.

CreditAccess Grameen's shares were trading around Rs 844.50 per share on the Indian bourses with nose dive of 7.87 per cent amounting to a Rs 72.10 per share on the dalal street.

CreditAccess Grameen Q3 FY25

Q3 FY25 Net Profit

For the third quarter ending December 31, 2024, the microfinance lender reported a net loss of Rs 99.5 crore on Friday. Early risk recognition, cautious provisioning, and accelerated write-offs were the causes of the loss, which set up the business for normalized growth and profitability in the upcoming quarters.

The lender's overall revenue, however, rose 6.7 per cent to Rs 1,381.9 crore in the reporting quarter compared to Rs 1,295 crore in the same quarter of the previous fiscal year.

Operational revenue Q3 FY25

Operating income fell 63.3 per cent year over year and 54.11 per cent from the previous quarter, indicating the company's severe operational difficulties during this time. Q3 earnings per share (EPS) were Rs 24.4, a 12.54 per cent year-over-year decline.

Asset under management (AUM) and borrowers

During the December quarter, the company's asset under management (AUM) increased 6.1 per cent to Rs 24,810 crore from Rs 23,382 crore during the same period in the previous fiscal year.

The number of the company's borrowers increased by 2.4 per cent annually to 48.05 lakh from 46.93 lakh.