Uy Fincorp announced its second quarter 2024 results on November 17, 2024: Profit fell 93.23% year-on-year to Rs 34.7 crore and revenue was Rs 452.4 crore

Uy Fincorp Second Quarter 2024 Results: Uy Fincorp reported its second quarter results on November 14, 2024, and the results were mixed, with profits falling sharply despite a significant increase in the company’s revenue. The company reported profits of $3.47 billion rupees, a year-on-year decrease of 93.23%, while revenue surged 55.45% to $45.24 Crores.

Compared to the previous quarter, Uy Fincorp’s revenue increased by 26.95%, but profits fell by 31.84%. The trend raises concerns about the company’s ability to effectively manage costs as revenue grows.

Selling, general and administrative expenses increased by 6.68% month-on-month and 6.25% year-on-year, resulting in a decrease in profit margins. Operating income also faced challenges. Although it increased significantly by 215.52% year-on-year, it fell by 12.18% from the previous quarter.

Second quarter earnings per share (EPS) were $0.18, a significant decrease of 94.07% from the same quarter last year, shareholders have experienced a difficult period.

As of now, Uy Fincorp has a market capitalization of $584.81 Crore, its shares are trading within the 52-week range $39.4 and $26.5. Investors will be closely watching the company’s next steps to emerge from the economic downturn.

Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.