AU Small Finance Bank shares up 10 pc, hits 52-week high

Shares of AU Small Finance Bank on Thursday soared over 10 per cent after the lender reported doubling of its net profit for the quarter ended December 2019.

The stock zoomed 9.93 per cent to close at Rs 974.75 on the BSE. During the day, it touched 52-week high of Rs 1,007.25, gaining more than 13 per cent over the previous close.

On the NSE, the scrip rose 10.03 per cent to settle at Rs 976. It touched 52-week high at Rs 1,008, up 13.63 per cent. In terms of volume, 3.25 lakh shares AU Small Finance Bank were traded on the BSE and NSE saw a exchange of more than 49 lakh units.

Moreover, intra-day the spurt in volume was more than 9.68 times on the BSE. The market capitalisation on the lender rose by over Rs 2,600 crore to hit a high of Rs 29,601.96 crore.

The lender on Wednesday reported doubling of its net profit to Rs 190.19 crore for the quarter ended December 2019, helped by higher income.

The company had clocked a net profit of Rs 95.33 crore during the same period a year ago, AU Small Finance Bank said in a BSE filing.

During the said quarter, its total income rose to Rs 1,272.83 crore from Rs 894.29 crore earlier.

Total expenses rose to Rs 959.98 crore from Rs 715.62 crore in October-December period of the preceding fiscal.