Magma Fincorp announced that the 39th Annual General Meeting (AGM) of the company will be held on 1 August 2019.

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Net profit of Magma Fincorp rose 6.59% to Rs 85.30 crore in the quarter ended March 2019 as against Rs 80.03 crore during the previous quarter ended March 2018. Sales rose 5.94% to Rs 620.03 crore in the quarter ended March 2019 as against Rs 585.24 crore during the previous quarter ended March 2018.

For the full year,net profit rose 28.33% to Rs 304.01 crore in the year ended March 2019 as against Rs 236.89 crore during the previous year ended March 2018. Sales rose 7.17% to Rs 2454.53 crore in the year ended March 2019 as against Rs 2290.37 crore during the previous year ended March 2018.

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Net profit of Magma Fincorp rose 15.90% to Rs 86.52 crore in the quarter ended March 2019 as against Rs 74.65 crore during the previous quarter ended March 2018. Sales rose 7.93% to Rs 567.16 crore in the quarter ended March 2019 as against Rs 525.49 crore during the previous quarter ended March 2018.

For the full year,net profit rose 36.72% to Rs 275.13 crore in the year ended March 2019 as against Rs 201.23 crore during the previous year ended March 2018. Sales rose 8.14% to Rs 2231.15 crore in the year ended March 2019 as against Rs 2063.18 crore during the previous year ended March 2018.

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Magma Fincorp announced that the Board of Directors of the Company at its meeting held on 15 May 2019, has recommended a Final dividend of Rs.0.8 per share (i.e.40%), subject to the approval of the shareholders.

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