Ujjivan Financial Services gains 7% on good December quarter results

The stock was up 7 per cent to Rs 305 after the company reported a healthy 54 per cent year-on-year growth in net profit at Rs 45.2 crore in Q3FY19.

Shares of Ujjivan Financial Services surged 7 per cent to Rs 305 apiece on BSE in the early morning trade after the company reported a healthy 54 per cent year-on-year (YoY) growth in net profit at Rs 45.2 crore in December quarter (Q3FY19). Net interest income grew 30 per cent at Rs 255 crore on YoY basis. Net interest margin (NIM) was at 11.8 per cent in Q3FY19, in line with Q3FY18.

"The stable cost of funds and interest rate hike for group loans which we took in September 2018 has helped the company to maintain net interest margin