117 per cent jump in net profit: This multibagger micro-cap company reports stellar quarterly results (Q1FY24)!
The stock is up by 60 per cent in just 1 year, and it has delivered multibagger returns of 280 per cent in 2 years & over 450 per cent in 3 years.
Kings Infra Ventures Limited (KIVL), incorporated in 1987, is located in Tuticorin, Tamil Nadu. The company is engaged in aquaculture farming, seafood processing, international trade of marine products, aquaculture consultancy, food-related infrastructure development and domestic marketing and supply of retail packed marine products.
The company announced its stellar Quarterly Results ended June 30, 2023. The net sales increased by 87.14 per cent to Rs 20.86 crore, the operating profit increased by 91.41 per cent to Rs 3.79 crore, the profit before tax increased by 117.91 per cent to Rs 2.92 crore and the net profit increased by 117.17 per cent to Rs 2.15 crore in Q1FY24 over Q1FY23.
According to the annual results, the net sales increased by 53.14 per cent to Rs 60.89 crore, the operating profit increased by 101.56 per cent to Rs 10.32 crore and the net profit increased by 95.61 per cent to Rs 5.79 crore in Q1FY24 over Q1FY23.
Additionally, the company is making a big bang expansion in the Chinese market with KINGS RISHFU brand shrimps. Kings Infra is enlarging its footprint in the Chinese market in association with the Shanghai-based Shanghai RSF Trading Company Limited. The two companies have signed a Memorandum of Understanding (MoU) for jointly promoting the KINGS RISHIFU brand in China.
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On Wednesday, shares of KIVL plunged 0.04 per cent to Rs 133.35 per share with an intraday high of Rs 137.50 and an intraday low of Rs 130. The stock’s 52-week high is Rs 142.50 and its 52-week low is Rs 80. The company has a market cap of over Rs 300 crore.
The stock is up by 60 per cent in just 1 year, and it has delivered multibagger returns of 280 per cent in 2 years & over 450 per cent in 3 years. Investors should keep an eye on this multibagger micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.