Manappuram Finance Shares Surge 6.5% On Q4 Earnings

New Delhi: Shares of Manappuram Finance on Friday surged 6.5 per cent to hit intraday high of Rs 94.55 after the company reported a 54 per cent increase in net profit for the March quarter.

Manappuram Finance, a gold loan NBFC, on Thursday reported a 54 per cent increase in net profit at Rs 200.57 crore for the fourth quarter ended March 2017.

The company had earned a net profit of Rs 130.70 crore in the same period a year ago.

Total income of the company rose to Rs 905.50 crore in the last quarter of 2016-17, from Rs 655.48 crore in the same quarter of previous fiscal, Manappuram Finance said in a statement.

The company declared fourth interim dividend of Rs 0.50 per equity share of Rs 2 each for 2016-17.

As of 11:21 am, Manappuram Finance traded 3.7 per cent higher at Rs 92.05, outperforming the Nifty which was up 0.33 per cent.