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Gruh Finance gains after reporting decent Q2 results

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gained 1.1% to Rs 359.25 at 11:45 on after net profit rose 19.86% to Rs 61.98 crore on 17.84% rise in total income to Rs 367.43 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours on Monday, 10 October 2016. The market remained shut on 11 and 12 October 2016.

Meanwhile, the S&P Sensex was down 270.73 points or 0.96% at 27,811.61.

Huge volumes were witnessed on the counter. On BSE, so far 32.83 lakh shares were traded in the counter as against average daily volume of 42,250 shares in the past one quarter. The stock hit high of Rs 370 so far during the day, which is a record high for the stock. The stock hit a low of Rs 338.10 so far during the day. The stock hit a 52-week low of Rs 226.30 on 18 January 2016. The stock had outperformed the market over the past one month till 10 October 2016, rising 11.69% compared with Sensex's 2.48% fall. The scrip had also outperformed the market in past one quarter, gaining 22.72% as against Sensex's 3.52% rise.

The large-cap company has an equity capital of Rs 72.78 crore. Face value per share is Rs 2.

Gruh Finance's net interest margin rose 20% to Rs 234 crore in Q2 September 2016 over Q2 September 2015. Gruh Finance's loan portfolio amounted to Rs 12089 crore as at 30 September 2016 as against Rs 9913 crore as at 30 September 2015, registering an increase of 22%. Loan disbursements rose 11% to Rs 1945.13 crore in Q2 September 2016 over Q2 September 2015.

Gruh Finance's main business is to provide loans for purchase or construction of residential houses.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 13 2016. 11:57 IST