CreditAccess shares rally 20% in two days after Q3FY26 profit turnaround
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Shares of CreditAccess Grameen surged as much as 10.7% to an intraday high of Rs 1,496.70 on Thursday, marking a second consecutive session of gains and a cumulative rally of around 20% in two trading sessions. The sharp rise in the stock comes after the microfinance lender reported a return to profitability in its December quarter results, compared with a net loss in the same period last year. In the third quarter, CreditAccess Grameen posted a net profit of Rs 252 crore, reversing a net loss of Rs 100 crore in the year ago period. The improvement was supported by lower provisions for bad loans, which fell to Rs 343 crore from Rs 752 crore in the previous year. The company’s pre provision operating profit (PPOP) also rose 9.2% year on year to Rs 681 crore. However, the lender’s gross non performing assets (GNPA) ratio increased slightly to 4.04% from 3.65% in the previous quarter. “Our third quarter performance reaffirms the strength and...