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Magma Fincorp’s Q2 consolidated profit surges 29%

19 Oct 2012 Evaluate

Magma Fincorp has reported results for second quarter ended September 30, 2012.

The company has posted a rise of 13.19% in its net profit at Rs 21.03 crore for the quarter ended September 30, 2012 as compared to Rs 18.58 crore for the same quarter in the previous year. The company’s total income from operation has registered a growth of 56.02% at Rs 361.15 crore for quarter under review as compared to Rs 231.47 crore for the quarter ended September 30, 2011.

On consolidated basis, the company’s net profit after taxes and minority interest for the quarter under review registered 29.35% growth at Rs 26.62 crore against Rs 20.58 crore in the September quarter of previous fiscal. Group’s total income too has risen by 56.55% at Rs 381.88 crore for the quarter from Rs 243.93 crore in the similar quarter of previous year.

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