5Paisa Capital Limited saw its share price jump by more than 7 percent in the early hours of Thursday. The shares rallied after the company reported a multifold jump in its net profits in the December quarter.
The total revenue of 5Paisa Capital Limited stood at Rs 83.76 crore in Q3FY23 which increased by 5 percent from Rs 80.05 crore during the same quarter of the previous year. In the previous quarter, their revenue was Rs 79.54 crores.
Their net profit jumped by a whopping 1,389.19 percent as it stood at Rs 11.02 crore in the quarter, up from Rs 0.74 crore in the year-ago period. On a sequential basis, their profits jumped by 2 percent from Rs 10.74 Crore.
The company’s customer base increased by 5 percent in the December quarter which is now more than 3.35 Million. While their app user base also saw a growth of more than 5 percent which is now more than 14.55 Million.
5Paisa is one of India’s leading financial services companies offering investing, insurance, and mutual funds among others. The company is mainly in online discounted stock broking, depository services, research, distribution of financial products, and peer-to-peer lending.
The shares of the company have gained more than 14 percent in the last six months. It reached a 52-week high of Rs 445.40 in January 2022. Currently, it is trading 22 percent away from those levels.
Written by Anoushka Roy
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