Penny stock jumps 4% after company’s net profit increased by 125% in H2FY24

  • Trade Brains
  • Stock Market News
Penny stock jumps 4% after company’s net profit increased by 125% in H2FY24
Credit: © Reuters.

Penny stock engaged in the business of manufacturing and selling wires, cable wires, conductors and many more jumped 4 percent in the day’s trade upon posting its Q4FY24 results with a 125 percent jump in Net Profits.

With a market capitalization of Rs.92 Crores, the shares of Marco Cables & Conductors Limited were trading at Rs. 49.10, up 3.81 percent from its previous day’s close price of Rs. 47.30.

Its Revenue from Operations half yearly grew by 146 percent from Rs. 20.70 Crores in H1FY24 to Rs. 50.94 Crores in H2FY24 and it grew by 47.35 percent from Rs. 34.57 Crores in H2FY23 to Rs. 50.94 Crores in H2FY24. Annually it generated a revenue of Rs. 56.76 Crores in FY23 to Rs. 71.64 Crores in FY24, indicating a growth of 26.21 percent.

Its Net profit half yearly grew by 125.42 percent from Rs. 93.31 Lakhs in H1FY24 to Rs. 2.10 Crore in H2FY24 and it declined by 23 percent from Rs. 2.75 Crores in H2FY23 to Rs. 2.1 Crores in H2FY24. Annually it generated a Net Profit of Rs. 3.08 Crores in FY23 to Rs. 3.03 Crores in FY24, indicating a decline of 1.60 percent.

As of EBIT, it grew by 180 percent from Rs. 1.13 Crore in H1FY24 to Rs. 3.16 Crore in H2FY24 and it declined by 10 percent from Rs. 3.51 Crores in H2FY23 to Rs. 3.16 Crore in H2FY24 and annually it grew by 9 percent from Rs. 3.94 Crore in FY23 to Rs. 4.30 Crore in FY24.

As per the press releases in Q4 it has received multiple work orders Worth Rs. 9 Crores for the supply of R04483/L.T. Aerial Bunched Cable, R04484 /AAAC 100 mm2 conductor alloys, Aerial Bunched Cable 3×70+16+50 and many more from RMC SWITCHGEAR, ACDC Saideep Buildcon and many others.

Marco Cables & Conductors Limited is engaged in the business of manufacturing and selling wires, cable wires, conductors, and many more used for applications like distribution and transmission of power.

Written by: Bharath K.S

Disclaimer

The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Penny stock jumps 4% after company’s net profit increased by 125% in H2FY24 appeared first on Trade Brains.

Read More

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • Bharath Kumar @Bharath Kumar
    written by two persons, Bharath and trade brain?
    Like 0

Related Articles