The share price of Ujjivan Financial Services rallied on Thursday after the company reported a jump of 80 percent in its consolidated net profit to Rs 77.43 crore in the March quarter. The company had posted a net profit of Rs 43.15 crore during the same quarter last year.

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The share price rallied up to 13 percent to Rs 176.40 per share. At 12:05 pm, the shares lost minor gains and traded 11 percent higher at Rs 173.55 per share on the NSE.

The consolidated net income during the March quarter rose to Rs 805.20 crore from Rs 590 crore during the corresponding quarter last year.

The board of directors had proposed a final dividend at the rate of Rs 0. 80 per share (8 percent) for the FY2019-20, Ujjivan Financial Services said.

The extent to which the COVID-19 pandemic will impact the company will depend on future developments and which the group is unable to assess currently, said the company's management.

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First Published:May 28, 2020 1:32 PM IST