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Ujjivan Financial Services share closes over 8% higher on strong Q4 earnings

Share price of Ujjivan Financial Services gained up to 12.21% to Rs 175.75 compared to the previous close of Rs 156.40 on BSE

twitter-logoBusinessToday.In Last Updated: May 28, 2020 | 16:42 IST
Ujjivan Financial Services share closes over 8% higher on strong Q4 earnings
Ujjivan Financial Services share has gained 14.53% in the last 2 days

Ujjivan Financial Services share closed over 8% higher today after the firm reported a nearly 80 per cent jump in its consolidated net profit for quarter ended March 2020. Share price of Ujjivan Financial Services gained up to 12.21% to Rs 175.75 compared to the previous close of Rs 156.40 on BSE. Ujjivan Financial Services share has gained 14.53% in the last 2 days.

The stock opened with a gain of 2.3% at Rs 160 today. The small cap stock stands higher than its 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

Ujjivan Financial Services share has lost 52% during last one year and fallen 51.23% since the beginning of this year.

Net profit for Q4 rose to Rs 77.43 crore against Rs 43.15 crore net profit during the January-March period of 2019. Consolidated income in Q4 rose to Rs 805.20 crore against Rs 590.01 crore in the same period a year ago.

For the full fiscal (2019-20), company's net profit on a consolidated basis nearly doubled to Rs 298.66 crore from Rs 150.44 crore in the previous year. Total income for the entire fiscal rose to Rs 2,969.37 crore from Rs 2013.62 crore in 2018-19.

On standalone basis, the company reported a net loss of Rs 2.86 crore during the March 2020 quarter. There was a net profit of Rs 11.22 crore in year-ago period. Total income on standalone basis fell to Rs 2.51 crore from Rs 13.40 crore.

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In last fiscal, standalone net profit fell to Rs 8.82 crore from Rs 21.58 crore. Income too decreased to Rs 21.24 crore as against Rs 30.62 crore.  Ujjivan Financial Services Limited, formerly Ujjivan Financial Services Private Limited, is a non-banking finance company engaged in the micro finance lending business.

The company's products and services include microfinance, micro and small enterprise business (MSE) finance, agriculture and animal husbandry finance, and housing finance.  It operates through approximately 470 branches spread over 20 states in four regions: South, East, North and West.

By Aseem Thapliyal

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