Fusion Finance stays in red with Q2 net loss of Rs 305 cr; GNPA hits 9.4%

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Fusion Finance stays in red with Q2 net loss of Rs 305 cr; GNPA hits 9.4% - Business Standard

Quick Summary:

Its impairment for financial instruments, that is credit costs, shot up to Rs 694.05 crore in Q2Fy25 from Rs 76.2 crore in Q2FY24 and Rs 348.

We have implemented strong measures to tighten credit criteria for new disbursements along with an increased focus on field collections and curtailed growth resulting in muted AUM numbers Q-o-Q basis,” he said.

Sequentially, it had posted a net loss of Rs 35.6 crore in the first quarter of FY25.