Manappuram Finance has surged 5% to Rs 61.50 on reporting a 125% year-on-year (y-o-y) growth in net profit to Rs 135 crore for the quarter ended September 30, compared to Rs 60 crore in the corresponding quarter of the previous fiscal.
The operating income too, more than doubled from Rs 243 crore to Rs 620 crore during the recently concluded quarter.
Meanwhile, the company engaged in the business of gold loan, has opened 223 new branches during the quarter taking its national network to 2,503 branches spread across 23 states and united territories.
The stock opened at Rs 58.70 and hit a high of Rs 62 on the National Stock Exchange. A combined 811,823 shares have changed hands on the counter in morning deals.