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The Economic Times
The Economic Times
Debaroti Adhikary

Manappuram Finance shares jump 3% after Q1 profit soars 4x. Why Jefferies, Morgan Stanley raised target prices

Manappuram Finance Jefferies Morgan Stanley Manappuram CLSA Gold

Shares of Manappuram Finance jumped 3% on Wednesday after the gold financier reported a nearly four-fold rise in consolidated net profit to Rs 585 crore in Q1 FY27. Net profit stood at Rs 138 crore in the year-ago quarter.

Manappuram Finance shares jumped to nearly Rs 370 apiece during the morning trade before paring some gains. The company on Tuesday reported a 34% year-on-year (YoY) increase in revenue from operations to Rs 3,034 crore in the April-June quarter of FY27, compared with Rs 2,263 crore in the corresponding quarter of the previous financial year.

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