Ujjivan Financial Services shares rally nearly 13% after company's net profit jumps 79% in Q4
Shares of Ujjivan Financial Services on Thursday jumped nearly 13 percent after the company reported over 79 percent jump in its consolidated net profit in the March 2020 quarter
New Delhi: Shares of Ujjivan Financial Services on Thursday jumped nearly 13 percent after the company reported over 79 percent jump in its consolidated net profit in the March 2020 quarter.
The scrip zoomed 11.82 percent to Rs 174.90 on BSE.
On NSE, it surged 12.75 percent to Rs 176.40.
— CNBC-TV18 (@CNBCTV18Live) May 28, 2020
Ujjivan Financial Services on Wednesday reported over 79 percent jump in its consolidated net profit at Rs 77.43 crore in the March 2020 quarter.
The company had posted a net profit of Rs 43.15 crore during the January-March period of 2019.
Its consolidated income during the quarter under review rose to Rs 805.20 crore as against Rs 590.01 crore in the same period a year ago, according to a regulatory filing.
For the full fiscal (2019-20), the company's net profit on a consolidated basis nearly doubled to Rs 298.66 crore from Rs 150.44 crore in the previous year. Total income for the entire fiscal rose to Rs 2,969.37 crore from Rs 2013.62 crore in 2018-19.
Ujjivan Small Finance Bank, which recently concluded its Rs 750-crore initial public offering, will make the stock market debut on Thursday
Nonetheless, the central bank concluded that the recent deceleration in the economy is in the “nature of a soft patch mutating into a cyclical downswing, rather than a deep structural slowdown.”
Ujjivan Small Finance Bank makes stellar debut on stock exchanges; gains 57% against issue price of Rs 37
Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank.