The share price of Ujjivan Financial Services rallied 13 per cent on Thursday after the company reported a jump of 80 per cent in its consolidated net profit to Rs 77.43 crore in the March quarter. The company had posted a net profit of Rs 43.15 crore during the same quarter last year. Its consolidated income during the quarter rose to Rs 805.20 crore as against Rs 590.01 crore in the same period a year ago.
Sales of the company rose 38.2 per cent to Rs 786.49 crore in the quarter ended March 2020 as against Rs 569.11 crore during the previous quarter ended March 2019. The board of directors had proposed a final dividend at the rate of Rs 0. 80 per share (8 per cent) for the FY2019-20, Ujjivan Financial Services said. The stock touched the upper circuit of Rs 172. It was trading with volumes of 774,788 shares, compared to its five day average of 227,156 shares, an increase of 241.08 per cent.
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