Shares of SBFC Finance Ltd. jumped over 7% on Wednesday after its standalone net profit rose 47% in the June quarter of fiscal 2024.
The financial services firm's profit increased to Rs 46.96 crore in the first quarter compared with Rs 32.1 crore in the year-ago period. The net interest margin stood at 9.1% vs 9.5% on a year-on-year basis, according to an exchange filing on Tuesday.
SBFC Finance's stock was trading 5.05% higher at Rs 90.45 apiece compared to a 0.46% advance in the benchmark NSE Nifty 50 as of 9:54 a.m. The share price rose as much as 7.9% to hit an intra-day high of Rs 92.90 apiece.
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