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Magma Fincorp hits record high post Q1 results

The stock hit a record high of Rs 185, surged 9% on BSE in intra-day trade.

SI Reporter  |  Mumbai 

Magma Fincorp hit a record high of Rs 185, surging 9% on BSE in intra-day trade after the asset management company said that its net interest margin (NIM) improved 143 bps year-on-year (yoy) to an all-time high of 8.3% in June quarter (Q1FY18) due to improvement in cost of funds and decline in non-income generating non-performing assets or NPAs.

The company posted 5% year-on-year decline in net profit of Rs 45.1 crore compared to Rs 47.6 crore reported in the corresponding quarter of last fiscal year due to the additional provisions of Rs 10 crore made in this quarter for moving ...

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First Published: Thu, August 03 2017. 11:32 IST
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