Manappuram Finance shares end over 3 pc higher as Q4 net profit jumps

Shares of Manappuram Finance on Friday closed with over 3 per cent gains after the company reported nearly 44 per cent increase in net profit for the quarter ended March 2020.

On the BSE, the scrip closed at Rs 127.20, a gain of 3.41 per cent. During the day, it advanced 7.23 per cent to Rs 131.90.

It went up by 2.68 per cent to close at Rs 126.35 on the NSE after jumping 7.19 per cent to Rs 131.90 during the trade.

In traded volume terms, 15.71 lakh shares were traded on the BSE and 3.57 crore units on the NSE.

The non-banking financial company on Thursday reported nearly 44 per cent increase in net profit at Rs 398.20 crore for the quarter ended March 2020 on robust interest income.

It had posted a net profit of Rs 277.39 crore during the corresponding period of the preceding fiscal.

Total income during the quarter under review rose to Rs 1,618.15 crore as against Rs 1,166.51 crore a year ago, Manappuram Finance said in a regulatory filing.

Of this, the interest income was Rs 1,471.91 crore, higher than Rs 1,085.80 crore in the year-ago quarter.

For 2019-20, the company's net profit soared 56 per cent to Rs 1,618.15 crore as against Rs 948.55 crore in the previous year.