Fusion Finance stock tanks 20%, hits 52-week low on weak Q1 results

Quick Summary:

The company reported a net loss of Rs 35.62 crore in June 2024 quarter due to higher than usual provisioning.

In Q1FY25, the company’s PPOP increased by 26.5 per cent year-on-year (YoY) to Rs 297.75 crore from 235.39 crore in Q1FY24.

This also indicates that incremental disbursement growth is largely contributed by the rise in loan ticket size,” the brokerage firm said in its result update.“The macro economic environment seems to have accentuated the problem in Q1FY25.

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Category: BusinessFinance

Markets: India

Topics: ECL model Microfinance institutions Fusion Finance share Asset under Management Expected credit loss AUM JLG model Q1 Nonbanking Financial Company-Microfinance Institutions NBFC-MFIs Markets Joint Liability Group

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 13:24:17 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 746 words

Reading Time: 5 minutes read

Sentences: 31 lines

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Copyright Owner: © Business Standard

News ID: 21967849

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