Manappuram Q1 Net Profit jumps Twofold

Manappuram share price rose by nearly 0.63% per cent this morning. The stock opened at Rs. 89.70 against its previous closing at Rs.87.30.  The stock touched the days high and low at Rs. 91.25 and Rs.86.60. 

Manappuram posted over twofold jump in consolidated net profit amounting to Rs 160.33 crore in the first quarter ended June of current financial year. The company had reported a net profit of Rs 59.30 crore in the similar April-June period of 2015-16.

According to the company total income (consolidated) has increased to Rs 750.79 crore for the June 2016 quarter, from Rs 540.96 crore for the same quarter of the previous financial year. On standalone basis, company disclosed its net profit which increased by 166 per cent to Rs 149.25 crore in June quarter of this fiscal as compared to Rs 55.92 crore over the year ago period.

Income (standalone) rose to Rs 675.37 crore during April-June period of 2016-17, from Rs 515.99 crore in the year ago period. The Kerala based non-banking financial company (NBFC), Manappuram Finance has now extended into forex and remittances services besides its main business of lending against gold. Manappuram share price closed at an increase of 0.55 points at Rs.88.30 and was trading at Rs. 87.85.

Manappuram Share Price Forecast

Manappuram is one of the multibagger stocks recommended by Dynamic Levels for this quarter amongst the 1700 shares listed on NSE. Last day i.e on 9^th August Manappuram share price touched its new 52 week high at Rs. 92.40 while the 52 week low is seen at Rs. 19.80 (10-Sep-15).  The company has a market cap amounting to Rs 7346.95 (Cr).For further information kindly follow the Manappuram share price history page of Dynamic Levels Website and the Ladder on Manappuram share price forecast page to get the resistance and support levels.