Vakrangee Hits 52-Week High As Q2 Net Profit Rises 31%

Shares of Vakrangee Limited jumped as much as 4.3 per cent to hit fresh 52-week high of Rs 259.70 after the company reported a 31 per cent rise in September quarter net profit. 

Financial technology solutions provider Vakrangee's net profit came in at Rs 126.56 crore on sales of Rs 943 crore, compared with net profit of Rs 95.29 crore during the same period last financial year.

Vakrangee is focused on building India's largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, e-commerce and ATM services to the unserved rural, semi-urban and urban markets.

As of 12:57 p.m., shares of Vakrangee traded 4.34 per cent higher at Rs 259.85, outperforming the Nifty which was up 1 per cent.