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Magma Fincorp hits 52-week high post Q4 results

The stock rallied 9% to Rs 138 on BSE on back of heavy volumes

SI Reporter  |  Mumbai 

Magma Fincorp hit 52-week high of Rs 138, up 9% on BSE, after the company’s assets quality improved for the quarter ended March 2017 (Q4FY17) on sequential basis. In Q4FY17, the non-banking finance company (NBFC) reported a loss of Rs 122 crore, mainly due to substantial cleanup of the old non-performing assets (NPA).

Loss on account of NPA sale of Rs 678 crore impacted the net profit by Rs 145 crore. However, the gross and net NPA ratios improved sharply to 6.7% and 5.6% respectively as on 31 March 2017 against 9.9% and 7.5% as on 31 December 2016, Magma Fincorp said in a ...

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First Published: Fri, May 12 2017. 13:40 IST
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