Equitas Holdings shares gain over 5% intraday post Q1 results

By: | Updated: July 25, 2016 4:23 PM

Equitas Holdings shares jumped as much as 5.64 per cent on Monday after the financial services provider reported 63.63 per cent rise in consolidated net profit figures at Rs 61.17 crore for the quarter ended June 2016

bse sensex nse nifty equitas holdingsEquitas Holdings shares jumped as much as 5.64 per cent on Monday after the financial services provider reported 63.63 per cent rise in consolidated net profit figures at Rs 61.17 crore for the quarter ended June 2016 (Photo: Reuters)

Equitas Holdings shares jumped as much as 5.64 per cent on Monday after the financial services provider reported 63.63 per cent rise in consolidated net profit figures at Rs 61.17 crore for the quarter ended June 2016 against Rs 37.39 crore in the same quarter last year. Gross sales of Equitas Holdings jumped 44.05 per cent year-on-year to Rs 334.04 crore against Rs 231.90 crore in the same quarter last year.

At 12.08 pm, shares of Equitas Holdings were trading 4.02 per cent up at Rs 189.05. The scrip opened at Rs 189.80 and has touched a high and low of Rs 192 and Rs 185.15, respectively, in trade so far.

Later, the scrip closed 2.70 per cent up at Rs 186.65. Benchmark BSE Sensex closed 292 points up at 28,095.34.

Operating profit of Equitas Holdings jumped 47.91 per cent year-on-year to Rs 222.78 crore during the quarter under review. It had reported operating profit of Rs 150.62 crore in the same quarter last year.

PN Vasudevan, managing director, Equitas Holdings in a release said, “We had a reasonable quarter. Loan outstanding portfolio as of June 2016 grew by 48 per cent on a year-on-year basis along with a 64 per cent growth in profits for the quarter on a year-on-year basis.”

The company is planning to start the small finance bank (SFB) by September 2016.

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