Bharat Financial Inclusion shares gained as much as 8 per cent in the morning trade on Friday
Bharat Financial Inclusion shares gained over 10 per cent on Friday after the company reported 285.75 per cent, or 3.86 times, rise in net profit figures at Rs 235.91 crore for the quarter ended June 30, 2016 against Rs 61.16 crore in the corresponding quarter last year. Gross sales of the company grew by 53.76 per cent year-on-year (yoy) to Rs 334.12 crore in the quarter under review. It had reported topline figures of Rs 217.30 crore in the same quarter last year.
During April-June period, operating profit of the company jumped 53 per cent yoy to Rs 277.31 crore against Rs 181.26 crore in the same period last year. The company on Thursday also granted 1,43,100 stock options to the eligible employees subject to the terms of the Employee Stock Option Plans of Bharat Financial Inclusion.
Shares of the company settled 10.58 per cent up at Rs 844.90. The scrip opened at Rs 782 and touched a high and low of Rs 890.75 and Rs 776.10, respectively, in trade so far. Sensex closed 92.72 points up at 27,803.24.
Promoters hold 2.65 per cent stake in the company, while institutions and non-institutions held 77.05 per cent and 20.28 per cent, respectively. Bharat Financial Inclusion is a non-banking finance company (NBFC) and was formerly known as SKS Microfinance.