Poonawalla Fincorp shares slumped 20% to hit one-year low after Q2 results; here’s why
Shares of Poonawalla Fincorp on Friday took a sharp beating after the shadow lender declared its second quarter (Q2 FY25) results. The stock cracked 20 per cent to hit a 52-week low of Rs 286.65. It eventually settled 16.89 per cent lower at Rs 297.65.
The stock started tumbling after the non-banking financial company (NBFC) reported a net loss of Rs 471.04 crore in the September 2024 quarter as against a profit of Rs 854.6 crore in the year-ago period.
Revenue from operations, however, rose 33.88 per cent year-on-year (YoY) to Rs 988.87 crore in Q2 FY25 from Rs 738.65 crore in the corresponding period last year.
The NBFC’s gross non-performing asset (NPA) came at 2.10 per cent, up 74 basis points (bps) YoY and 143 bps QoQ, on…
