 "Manappuram Finance hits 52-week high on strong Q4 results")
Manappuram Finance has surged 20% to Rs 50.25, also its 52-week high on the BSE, after the company reported robust 87% year on year (YoY) growth in consolidated net profit at Rs 131 crore for the fourth quarter ended March 31, 2016 (Q4FY16). The company had registered a profit of Rs 70 crore in a year ago quarter.
Net interest income (income from operations minus finance expenses) grew 45% to Rs 417 crore from Rs 287 crore in the corresponding quarter of previous fiscal.
At 09:55 am, the stock was up 17% to Rs 49 on the BSE. The trading volumes on the counter jumped more than 10-fold with a combined 17.07 million shares changed hands on the BSE and NSE.
Net interest income (income from operations minus finance expenses) grew 45% to Rs 417 crore from Rs 287 crore in the corresponding quarter of previous fiscal.
At 09:55 am, the stock was up 17% to Rs 49 on the BSE. The trading volumes on the counter jumped more than 10-fold with a combined 17.07 million shares changed hands on the BSE and NSE.
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