Mufin Green Finance shares rise after net profit in Q2 grows by 100%
The Kolkata-based company had posted a profit of Rs 2.02 crore during the July-September quarter of the preceding fiscal.
Non-bank lender Mufin Green Finance shares today gained as the company announced its earnings for the quarter that ended September 2023.
The stock started positive as the company's net profit doubled in the quarter. The stock started positive as it touched the day's high at Rs 126.
The company second said its standalone net profit doubled to Rs 4 crore, helped by increased revenues. The Kolkata-based company had posted a profit of Rs 2.02 crore during the July-September quarter of the preceding fiscal.
The total revenues surged to Rs 21.13 crore in the September quarter from Rs 6.59 crore reported in the same quarter in the year-ago period. It expenses stood at Rs 15.76 crore.
Mufin Green Finance is a non-banking finance company. It is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries. The company has a presence in 14 states in north India.
According to information available on the BSE website, Mufin Green Finance shares have given 183 per cent in three months.
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