Tourism Finance Corporation of India, financial services company, reported standalone net profit of Rs. 32.47 crore for the quarter ended March 31, 2016, registering growth of 189.21% yoy and 108.56% qoq. It's Net Interest Income (NII) for the quarter stood at Rs. 14.03 crore, declining 39.42% yoy and 44.31% qoq.
For the year ended March 31, 2016, the company reported net profit of Rs. 53.61 crore, witnessing decline of 10.92% yoy. It's NII for the current period of Rs. 94.10 crore was down 6.81% yoy.
Result Highlights: (Rs. in crore)
|Reported Results||IIFL Estimates||Variance (%)|
|Standalone Net Profit||32.47||14||131.93|
Bloomberg estimated the company’s standalone net profit at Rs. 127 crore.
Corporate Action: Tourism Finance Corporation of India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 16, 2016, inter alia, to consider and approve the Audited Financial Results for the quarter/year ended March 31, 2016 and to consider dividend, if any. Further, in compliance with Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and the Company's internal code of conduct for prevention of insider trading, the trading window for dealing in securities of the Company will remain closed from May 06, 2016 to May 18, 2016 (both days inclusive) for the aforesaid purpose.
Tourism Finance Corporation of India Ltd is currently trading at Rs. 41.3, down by 2.65 points or 6.03% from its previous closing of Rs. 43.95 on the BSE.
The scrip opened at Rs. 44.15 and has touched a high and low of Rs. 44.6 and Rs. 41.3 respectively. So far 519748(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 354.76 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 69.2 on 06-Jan-2016 and a 52 week low of Rs. 38 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 44.95 and Rs. 41.95 respectively.
The promoters holding in the company stood at 56.33 % while Institutions and Non-Institutions held 5.73 % and 37.93 % respectively.
The stock is currently trading above its 200 DMA.