Earnings impact: CreditAccess Grameen surges nearly 9% as Q4 profit jumps 86%

The firm posted an 86.4 percent jump in its net profit at ₹296.6 crore in Q4FY23 versus ₹159 crore in the year-ago period. The stock rose as much as 8.7 percent to its day's high of ₹1,183.

CreditAccess Grameen surges 10% after company posts its highest-ever quarterly net profit in Q3

CreditAccess Grameen Limited is a leading Indian microfinance institution headquartered in Bengaluru, focused on providing micro-loans to women customers predominantly in rural areas across India. In Q3FY23, the lender posted its highest ever quarterly consolidated net profit of ₹217 crore.

CreditAccess Grameen: Why brokerages sees a 45% upside in this stock even after a 53% rally in 2022

For the September quarter, CreditAccess Grameen reported its highest-ever net profit of ₹176 crore, aided by steady business expansion and consistent loan repayment. The company posted a net profit of ₹59.7 crore in the corresponding quarter of the last fiscal.

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Earnings impact: CreditAccess Grameen surges nearly 9% as Q4 profit jumps 86%

markets

CreditAccess Grameen surges 10% after company posts its highest-ever quarterly net profit in Q3

markets

CreditAccess Grameen: Why brokerages sees a 45% upside in this stock even after a 53% rally in 2022