5paisa Capital stock spikes 10% after December quarter profit zooms 1,389%

The company’s sales grew 4.63% to Rs 83.76 crore, up from Rs 80.05 crore in the same quarter of the previous year

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5paisa Capital share price surged over 10 percent in the morning session on January 12, a day after the stock broking company reported 1,389.19 percent rise in profit in the December quarter at Rs 11.02 crore, up from Rs 0.74 crore in the year-ago period.

The company’s sales rose 4.63 percent to Rs 83.76 crore from Rs 80.05 crore during the same quarter of the previous year.

At 9.45 am 5paisa Capital was quoting at Rs 345.85, up Rs 32.70, or 10.44 percent, on BSE. The stock, the biggest gainer among small caps, touched an intraday high of Rs 351.85 and an intraday low of Rs 327.10.

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Earlier, 5paisa Capital, a discount broking unit belonging to Nirmal Jain-controlled IIFL Group, bought IIFL Securities’ online retail broking business in an all-stock deal.

Headquartered in Mumbai, 5Paisa is one of India’s leading financial services companies offering investing, insurance and mutual funds among others.