CreditAccess Grameen Reports Strong Financial Performance in Q1 2024
CreditAccess Grameen, a leading finance and NBFC company, has recently announced its financial results for the quarter ending March 2024. The company has shown a very positive performance, with its score increasing from 24 to 21 in the last three months.One of the key factors contributing to this success is the company's net sales, which have been consistently growing each quarter in the last five quarters. In the near term, the sales trend is expected to remain positive. The company's operating profit (PBDIT) has also seen a significant increase, reaching its highest at Rs 1,023.75 crore. This trend is expected to continue in the near term as well.
In terms of net sales, CreditAccess Grameen has shown a growth of 22.1% over the average net sales of the previous four quarters, which stood at Rs 1,193.65 crore. This indicates a positive sales trend in the near term. The company's profit before tax (PBT) less other income has also seen a significant increase, reaching its highest at Rs 527.85 crore in the last five quarters. The near term trend for PBT is also positive.
The company's profit after tax (PAT) has also shown a positive trend, reaching its highest at Rs 397.08 crore in the last five quarters. This indicates the company's ability to generate higher earnings for its shareholders. The earnings per share (EPS) have also seen an increase, reaching its highest at Rs 24.91 in the last five quarters.
Overall, CreditAccess Grameen has shown a strong financial performance in the quarter ending March 2024. With its net sales, operating profit, PBT, PAT, and EPS all showing positive trends, the company is on a path of growth and success. Based on these financials, MarketsMOJO has given a 'Hold' call for the company's stock.
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