Ujjivan Financial hits 52-week high post Q4 results

The stock hit a 52-week high of Rs 432, up 7% on the BSE after the company reported consolidated net profit at Rs 649 million in March quarter against Rs 194 million in year ago quarter

Ujjivan Financial Services hit 52-week high of Rs 432, up 7% on the BSE in early morning trade after the microfinance company reported more than three-fold jump in its consolidated net profit at Rs 649 million in March quarter (Q4FY18). It had profit of Rs 194 million in the same quarter year ago.

The assets quality of the company also improved on sequentially with gross non-performing assets (NPA) declined to 3.6% from 4.2% in previous quarter. Net NPA declined to 0.7% in Q4FY18 from 1% in Q3FY18.

Net interest income jumped 64% year on year to Rs 2.1