Fusion Microfinance reported a net loss of approximately INR 3.1 billion in Q2 FY25, significantly higher than expected due to elevated credit costs. Despite a 30% YoY growth in net interest income to INR 4 billion, disbursements fell 44% QoQ, leading to a revised target price of INR 165 and a Neutral rating as the company faces challenges in managing its liabilities and credit costs.
Deloitte has raised concerns about Fusion Finance's ability to continue as a going concern after the company reported losses of Rs 305 crore and breached loan covenants on borrowings of Rs 5,618 crore. The statutory auditor highlighted that the company is negotiating with lenders for waivers on immediate repayment rights, but uncertainty remains regarding its financial stability.
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