5paisa Capital stock is up 10% as its December quarter profit increased by 1,389%
The company's sales increased by 4.63% to Rs 83.76 crore, up from Rs 80.05 crore in the same period last year.
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The share price of 5paisa Capital rose more than 10% in the morning session on January 12, a day after the stock broking firm announced a 1,389.19% increase in profit in the December quarter to Rs 11.02 crore, up from Rs 0.74 crore the previous year.
Sales increased 4.63 percent to Rs 83.76 crore from Rs 80.05 crore in the same quarter last year.
5paisa Capital was trading at Rs 345.85 on the BSE at 9.45 a.m., up Rs 32.70, or 10.44 percent. The stock, which was the top gainer among small caps, reached an intraday high of Rs 351.85 and a low of Rs 327.10.
Previously, 5paisa Capital, a discount broking unit of the Nirmal Jain-controlled IIFL Group, purchased IIFL Securities' online retail broking business in an all-stock transaction.
5Paisa, headquartered in Mumbai, is one of India's biggest financial services organisations, providing services such as investing, insurance, and mutual funds.
