Moneyboxx Finance hits upper circuit as income doubles in Q4

New Delhi: shares hit the upper circuit on Thursday after the company reported a sharp fall in net loss and over 100 per cent growth in income during the March 2021 quarter.

The net loss of the mortgage firm narrowed over 70 per cent to Rs 0.51 crore in the quarter ended on March 31 2021 as against net loss of Rs 1.75 crore during the previous quarter ended March 2020.

Despite the impact of the Covid-19 pandemic, sales during the period rose 109.84 per cent to Rs 3.84 crore in the Q4FY21 as against Rs 1.83 crore during the same quarter previous year. The company provides financial aid to the MSME segment.
The scrip soared 5 per cent, the upper circuit limit for the counter, to Rs 69.35 on Thursday. BSE Sensex was trading 310.39 points or 0.60 per cent higher at 52,252.03 at the time of writing this report. The stock settled at Rs 66.05 on Wednesday.

For the full year, the financial services firm reported a net loss of Rs 2.97 crore as against net loss of Rs 3.55 crore during the previous financial year ended March 2020.

Shares of Moneyboxx Finance have delivered over 46 per cent return in the last six months. However, the counter is still 20 per cent off from its recent peak of Rs 84.35, scaled in March 2021.

Sales during the period rose 192.53 per cent to Rs 10.97 crore in the year ended March 2021 as against Rs 3.75 crore during the previous year ended March 2020.