Microcap stock jumps 12% after company’s net profit increased by 551% in H2FY24 

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Microcap stock jumps 12% after company’s net profit increased by 551% in H2FY24 
Credit: © Reuters.

Multibagger stock engaged in multi-brand retail selling of Smartphones, Consumer durable electronics goods, electric bikes and many more jumped upto 12 percent in the day’s trade upon posting its Q4FY24 results with a 551 percent jump in Net Profits.

With a market capitalization of Rs. 496 Crores, the shares of Jay Jalaram Technologies Limited were trading at Rs. 445.50 per equity share, up 5.15 percent from its previous day’s close price of Rs. 423.70. It has delivered multibagger returns of 174 percent in a year.

Its Revenue from operations half yearly grew by 49 percent from Rs. 216.06 Crores in H1FY24 to Rs. 322.65 Crores in H2FY24 and it grew by 143 percent from Rs. 132.82 Crores in H2FY23 to Rs. 322.65 Crores in H2FY24. Annually it generated a Net Profit of Rs. 249.2 Crores in FY23 to Rs. 538.71 Crores in FY24, indicating a growth of 116 percent

Its Net Profit half yearly grew by 551 percent from Rs. 64.76 Lakhs in H1FY24 to Rs. 4.21 Crores in H2FY24 and it grew by 146 percent from Rs. 1.71 Crores in H2FY23 to Rs. 4.21 Crores in H2FY24. Annually it generated a Net Profit of Rs. 2.50 Crores in FY23 to Rs. 4.86 Crores in FY24, indicating a growth of 94.4 percent

On a Consolidated basis its revenue from operation half-yearly grew by 47.30 percent from Rs. 218.83 Crores in H1FY24 to Rs. 323.01 Crores in H2FY24, accompanied by profits of Rs. 22.65 Lakhs to Rs. 3.83 Crores indicating a growth of 1593 percent.

Jay Jalaram Technologies Limited is engaged in multi-brand retail selling of Smartphones, Consumer durable electronics goods like TV’s, Fridges, Electric Bikes like Revolt, and related services.

It operates its retail business of mobile phones and related accessories, consumer durable electronic goods, information technology products and other electronic goods under the brand names KORE, EROK and SIMRON.

It has reported a return on equity (ROE) of 14.6 percent, a return on capital employed (ROCE) of 17.3 percent and a debt to equity ratio of 0.96.

Written by: Bharath K.S

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