Magma Fincorp reports 41% surge in Q1 consolidated net profit

Magma Fincorp has reported results for first quarter ended June 30, 2013.

The company has registered a surge of 70.07% in its net profit at Rs 43.35 crore for the quarter under review as compared to Rs 25.49 crore for the same quarter in the previous year. Total income from operation of the company has increased by 43.26% at Rs 436.63 crore for Q1FY14 as compared Rs 304.79 crore for the corresponding quarter previous year.

On the consolidated basis, the group registered a gain of 40.81% in its net profit at Rs 43.72 crore for the quarter as compared to Rs 31.05 crore for the same quarter in the previous year. Total income from operation of the company, on consolidated basis, has surged by 49.18% at Rs 485.20 crore for quarter under review as compared to Rs 325.25 crore for the quarter ended June 30, 2012.