Bharat Fin shares advance 11 pc after smart Q3 results

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Shares of Bharat Financial Inclusion (formerly SKS Microfinance) zoomed nearly 11 per cent today after its net profit rose by nearly 80 per cent in the third quarter of this fiscal.

The stock advanced by 10.70 per cent to settle at Rs 749.20 on BSE. Intra-day, it jumped 11.64 per cent to Rs 755.60.

At NSE, shares of the company surged 10.43 per cent to close at Rs 749.15.

In terms of volume, 14.56 lakh shares of the company were traded on BSE and over 1 crore shares changed hands at NSE during the day.

Bharat Financial Inclusion yesterday said its net profit rose by nearly 80 per cent to Rs 143 crore in the third quarter of 2016-17 financial year.

The net profit in the corresponding October-December quarter of 2015-16 stood at Rs 79.50 crore.

Total income of the microfinance lender rose by 33.1 per cent to Rs 409 crore for the period under review, compared to Rs 307.25 crore a year earlier, it said in a regulatory filing