Magma Fincorp surges after strong Q4 results

The company announced Q4 results after market hours on Wednesday, 8 May 2013.

Meanwhile, the S&P BSE Sensex was down 37.52 points or 0.19% at 19,952.66.

On BSE, 93,551 shares were traded in the counter as against average daily volume of 2.54 lakh shares in the past one quarter.

The stock hit a high of Rs 99.75 and a low of Rs 91.50 so far during the day. The stock had hit record high of Rs 110.40 on 10 January 2013. The stock had hit a 52-week low of Rs 54.25 on 17 May 2012.

The stock had outperformed the market over the past one month till 8 May 2013, jumping 11.4% compared with the Sensex's 8.42% surge. The scrip had, however, underperformed the market in past one quarter, declining 0.06% as against Sensex's 2.59% rise.

The small-cap company has equity capital of Rs 37.99 crore. Face value per share is Rs 2.

Magma Fincorp's consolidated net profit surged 86.8% to Rs 138.24 crore on 57.5% growth in total income to Rs 1701.47 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

Magma Fincorp's board of directors at a meeting held on Wednesday, 8 May 2013, recommended dividend of 80 paise per share for FY 2013.

Magma Fincorp is one of the largest non-banking finance companies (NBFC) in India engaged in providing commercial vehicle finance, construction equipment finance, car and utility vehicle finance, Suvidha loans (refinance), strategic construction equipment finance, tractor finance, SME loans and loans against gold to individual and corporate customers.

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