Ujjivan Financial climbs 10% on robust quarterly results

Shares of Ujjivan Financial Services Thursday surged nearly 10 per cent on bourses after the company reported a consolidated net profit of Rs 44.3 crore in the second quarter ended September 30.

After a positive opening on BSE, shares of the company climbed 9.7 per cent to touch the day's high of Rs 238.7. At 1330 hrs, the shares were trading at Rs 234.3, a gain of 7.7 per from the previous close.

On the National Stock Exchange too, the financial services provider followed similar uptrend as the scrip rose to an intra-day high of Rs 238.6, which is 9.6 per cent higher as compared with the previous day close. The scrip was later trading at Rs 234.15, up 7.61 per cent from the Wednesday's closing.

The company, in a regulatory filing on Wednesday, posted a consolidated net profit of Rs 44.3 crore for the September 2018 quarter. It had registered a net loss of Rs 12 crore in the corresponding period of the previous fiscal.

Total income increased 23.6 per cent to Rs 467.40 crore in the reported quarter.