Multibagger stock under Rs 50: This Small Finance Bank reports an impressive 60 per cent surge in PAT!

Shares of the company gained more than 140 per cent in the last one year.

On July 27, 2023 during the trading hours Ujjivan Small Finance Bank Ltd has reported results for the first quarter ended June 30, 2023 or Q1FY24. After that it started to surge and went up by 13.15 per cent from closing of July 27, 2023. Today it opened at Rs 49.44 and currently it is trading at Rs 49.90, up by 3.44 per cent. Today it has hit fresh 52 week high at Rs 52.20. Over the past one year company has given multibagger return of 140.48 per cent.

Talking about the financials for Q1FY24 in comparison to the same quarter last year, the bank's net profit, increased by 59.69 per cent to Rs 324.07 crore from Rs 202.94 crore. In Q1FY24, the bank's total interest earned increased by 42.14 per cent from Rs 905.35 crore to Rs 1286.88 crore in a similar quarter the year prior. In Q1FY24, the bank's total net revenue increased by 42.16 per cent from Rs 1029.92 crore to Rs 1464.1 crore in a similar quarter the year prior.           

Sequentially the bank's net profit for the quarter which ended on June 30, 2023, increased by 4.71 per cent from Rs 309.50 crore. In Q1FY24, the bank's total net revenue increased by 7.35 per cent from Rs 1363.89 crore in the similar quarter the year prior.    

Ujjivan Small Finance Bank Limited is a mass market focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country.

Disclaimer: The article is for informational purposes only and not investment advice.