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Magma Fincorp touches roof despite reporting consolidated net loss of Rs 648 crore in Q4

01 Jun 2021 Evaluate

Magma Fincorp is currently trading at its upper circuit limit of Rs. 143.05, up by 6.80 points or 4.99% from its previous closing of Rs. 136.25 on the BSE.

The scrip opened at Rs. 143.05 and has touched a high and low of Rs. 143.05 and Rs. 143.05 respectively. So far 140400 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 147.90 on 10-May-2021 and a 52 week low of Rs. 13.70 on 01-Jun-2020.

Last one week high and low of the scrip stood at Rs. 143.05 and Rs. 129.00 respectively. The current market cap of the company is Rs. 10933.90 crore.

The promoters holding in the company stood at 24.39 % while Institutions and Non-Institutions held 48.72 % and 26.89 % respectively.

Magma Fincorp has reported net loss of Rs 625.91 crore for the quarter ended March 31, 2021 against net loss of Rs 35.35 crore for the same quarter in the previous year. Total income of the company decreased by 14.90% at Rs 446.30 crore for Q4FY21 as compared Rs 524.42 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported net loss attributed to shareholders of Rs 647.72 crore for the quarter ended March 31, 2021 against net loss of Rs 35.51 crore for the same quarter in the previous year. Total income of the company decreased by 4.94% at Rs 587.14 crore for Q4FY21 as compared Rs 617.62 crore for the corresponding quarter previous year.

For the year ended March 31, 2021, the company has reported net loss at Rs 578.36 crore against net loss of Rs 10.01 crore for the previous year. Total income of the company decreased by 15.42% at Rs 1,876.85 crore for year under review as compared to Rs 2,219.03 crore for year ended March 31, 2020.

For the year ended March 31, 2021, on the consolidated basis, the company has reported net loss attributed to shareholders of Rs 558.96 crore against net profit of Rs 27.05 crore for the previous year. Total income of the company decreased by 8.21% at Rs 2,352.48 crore for year under review as compared to Rs 2,562.88 crore for year ended March 31, 2020.

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