Company's net profit in October-December period of 2016- 17 stood at Rs 37.19 crore.
The company in a statement attributed the rise in net profit to reduction in cost of funds and increase in earning book.
Total income (consolidated) during the quarter went down to Rs 590.44 crore as against Rs 594.12 crore in the same period a year earlier, a company statement said.
Magma Fincorp offers services such as commercial finance, agri finance, SME finance, mortgage finance and is also engaged in general insurance through its subsidiary.
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