The company said it can now directly handle payment and aggregation of payment services relating to bills under the scope of the Bharat Bill Payment System (BBPS).

Nextgen Vakrangee Kendras exclusively offers a comprehensive range of products and services across banking, insurance, ATM, financial services, assisted e-commerce, e-governance and logistics.

With 70% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee shall have direct access to operate as an operating unit under the BBPOU and shall provide the Bill Payment service to its customers in the most remote and hitherto unserved/underserved parts of the country.

Vakrangee is a unique technology driven company focused on building a network of last-mile retail outlets to deliver real-time banking & financial services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets.

The company's consolidated net profit jumped 52.2% to Rs 11.89 crore on a 46.5% fall in net sales to Rs 67.85 crore in Q1 FY21 over Q1 FY20.

Year-to-date, the stock has tumbled 43.13% while the benchmark S&P BSE Sensex has declined 9.77% during the same period.

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Vakrangee has been granted in-principle authorisation to set-up and operate Bharat Bill Payment Operating Unit (BBPOU) under thePayment and Settlement Systems Act, 2007 from Reserve Bank of India (RBI). Vakrangee can now directly handle payment and aggregation of payment services relating to bills under the scope of BBPS.

Nextgen Vakrangee Kendras exclusively offers a comprehensive range of products and services across banking, insurance, ATM, Financial Services, Assisted e-Commerce, e-Governance and logistics. With 70% of its Nextgen outlets in Tier-5 and 6 towns, Vakrangee shall have directaccess to operate as an operating unit under the BBPOU and shall provide the Bill Payment service to its customers in the most remote and hitherto unserved/underserved parts of the country.

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Vakrangee announced that Anil Khanna (DIN: 01334483), a Non-Executive Director of the Company, has resigned as a Director of the Company due to personal reasons. The resignation is effective from 11 September 2020.

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Biocon Ltd, Essel Propack Ltd, Bharti Airtel Ltd and City Union Bank Ltd are among the other gainers in the BSE's 'A' group today, 01 September 2020.

Vakrangee Ltd surged 5.35% to Rs 29.55 at 11:53 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 3.59 lakh shares were traded on the counter so far as against the average daily volumes of 2.95 lakh shares in the past one month.

Biocon Ltd soared 5.33% to Rs 396.45. The stock was the second biggest gainer in 'A' group. On the BSE, 4.67 lakh shares were traded on the counter so far as against the average daily volumes of 1.89 lakh shares in the past one month.

Essel Propack Ltd spiked 5.32% to Rs 285. The stock was the third biggest gainer in 'A' group. On the BSE, 24247 shares were traded on the counter so far as against the average daily volumes of 31405 shares in the past one month.

Bharti Airtel Ltd spurt 5.26% to Rs 541. The stock was the fourth biggest gainer in 'A' group. On the BSE, 11.91 lakh shares were traded on the counter so far as against the average daily volumes of 7.04 lakh shares in the past one month.

City Union Bank Ltd added 4.70% to Rs 141.4. The stock was the fifth biggest gainer in 'A' group. On the BSE, 2.31 lakh shares were traded on the counter so far as against the average daily volumes of 1.66 lakh shares in the past one month.

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