Mufin Green Finance shares rebound; NBFC's PAT doubles in Q2

Shares of Mufin Green Finance rebounded more than 4 per cent from day's low on Monday. The multibagger stock has been hogging the limelight at Dalal Street after delivering stellar returns to investors in the various time frames.

Mufin Green Finance's net profit almost doubled in the September 2023 quarter. The company's bottomline came in at Rs 4.01 crore for the Q2FY24, up 99 per cent on a year-on-year basis. Its net profit stood at Rs 2.02 crore in the year ago period, said the exchange filings.

Its revenue from operations soared more than 220 per cent to Rs 21.08 crore in the quarter ended on September 30, 2023, compared with an operational income of Rs 6.56 crore in the year ago period. Operational profit came in at Rs 14.27 crore, with an operational profit margin of 68 per cent.

Shares of Mufin Green Finance rebound 4 per cent from day's low at Rs 122.20 to Rs 127.25 on Monday, with total market capitalization of Rs 1,900 crore. The scrip had settled at Rs 124.55 on Sunday's Muhurat trading session.

Shares of Mufin Green Finance has delivered about 300 per cent return to investors from its 52-week low at Rs 32.43 hit on November 23, 2022. It has more than tripled in the last six months period, while the stock is up 50 per cent in the last one month.

Mufin Green reported a 135 per cent YoY rise in the net profit at Rs 7.45 crore in the half year ended on September 30, 2023, compared to a net profit of Rs 3.17 crore in the year ago period. Revenue from operations surged more than 250 per cent to Rs 36.57 crore in the first half of the ongoing fiscal from Rs 10.81 crore in H1FY23.

Shares of Mufin Green Finance were listed on the National Stock Exchange (NSE) a week ago, that is Monday, November 6, 2023.
 

The company was given 'MUFIN' as the symbol by NSE and a total 1,50,99,5172 securities were listed on the NSE.

The Reserve Bank of India (RBI) had recently approved Mufin Green Finance to operate as an issuer of pre-paid instruments (PPI), allowing it to launch the 'super app' for comprehensive financial services. The New Delhi-based Mufin Green Finance provides financing solutions for the EV ecosystem.

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