Manappuram Finance rallies 20%, hits 52-week high post Q4 results

NEW DELHI: Shares of Manappuram Finance rose nearly 20 per cent in Friday's trade after the company reported a 79 per cent year-on-year (YoY) growth in standalone net profit at Rs 124.84 crore compared with Rs 69.68 crore reported for the year-ago period.

Reacting to the news, the stock rose to its 52-week high of Rs 50.25. At 09:40 am; Manappuram Finance was trading 16.7 per cent higher at Rs 48.90. The Manappuram group reported 86 per cent YoY growth in net profit at Rs 130.70 crore for the quarter ended March 31, compared with Rs 70.03 crore reported for the year-ago period.

Total income increased from Rs. 513.24 crore for the quarter ended March 31, 2015 to Rs 655.54 crore for the quarter ended March 31, 2016.