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21-Aug2018

Magma Fincorp surges on reporting 75% rise in Q1 consolidated net profit

Magma Fincorp is currently trading at Rs. 146.15, up by 1.20 points or 0.83% from its previous closing of Rs. 144.95 on the BSE.

The scrip opened at Rs. 148.50 and has touched a high and low of Rs. 149.00 and Rs. 142.70 respectively. So far 20030 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 193.50 on 22-May-2018 and a 52 week low of Rs. 133.65 on 20-Jul-2018.

Last one week high and low of the scrip stood at Rs. 150.00 and Rs. 135.50 respectively. The current market cap of the company is Rs. 3906.00 crore.

The promoters holding in the company stood at 24.42%, while Institutions and Non-Institutions held 64.12% and 11.46% respectively.

Magma Fincorp has reported a rise of 75.75% in its net profit at Rs 51.46 crore for the quarter ended June 30, 2018 under review as compared to Rs 29.28 crore for the same quarter in the previous year. Total income of the company increased marginally by 2.06% at Rs 552.36 crore for Q1FY19 as compared Rs 541.19 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 74.98% in its net profit at Rs 68.12 crore for the quarter under review as compared to Rs 38.93 crore for the same quarter in the previous year. Total consolidated income of the company increased marginally by 1.01% at Rs 605.73 crore for Q1FY19 as compared Rs 599.66 crore for the corresponding quarter previous year.


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