1400 per cent returns: This multibagger penny stock reports 1.41 times jump in net profit!

Throughout the quarter, notable strides were made as the company secured partnerships within the rapidly expanding segments of BFSI

One Point One Solutions is a leading player in Business Process Management (BPM). The company offers technology, accounting, skill-development and analytical solutions that help businesses build better capabilities and enable them to achieve seamless growth.

In Q1FY24, the company achieved a total income of Rs 40.24 crore, exhibiting a robust advancement of 14.81 per cent when measured against the Rs 35.05 crore recorded during the corresponding period in the preceding fiscal year, Q1FY23. Demonstrating its operational prowess, the EBITDA for this quarter surged to Rs 12.81 crore, showcasing a substantial growth of 48.44 per cent in comparison to the Rs 8.63 crore reported in Q1FY23.

This performance was complemented by an impressive expansion in EBITDA Margin, which reached 31.83 per cent, a distinct elevation from the 24.63 per cent figure reported in the same quarter of the previous fiscal year. Notably, the Net Profit for the quarter reached Rs 4.32 crore, signifying a substantial surge of 1.41 times compared to the Rs 1.79 crore reported in Q1FY23.

Throughout the quarter, notable strides were made as the company secured partnerships within the rapidly expanding segments of BFSI (Banking, Financial Services, and Insurance) and consumer markets.

Firstly, the company established a collaboration with India's foremost Department for Promotion of Industry and Internal Trade (DPIIT) certified branchless banking and digital payments network company, reinforcing its position in the fintech landscape.

Additionally, a significant alliance was formed with one of India's premier new-generation private sector banks, known for its comprehensive banking solutions tailored to retail, MSME, and corporate clientele.

Furthermore, a prominent private-sector bank with an extensive network of over 1500 branches and a customer base exceeding 7.5 million was added to the company's portfolio. This partnership involves managing the collection portfolio for the bank's expanding credit card segment, leveraging the company's expertise.

Lastly, a strategic affiliation was established with a leading company specializing in sleep and home solutions. The agreement encompasses a range of BPM (Business Process Management) services, encompassing crucial aspects such as customer support and order management, enhancing the company's service offerings in the consumer sector.

The stock has witnessed significant buying activity as it has given multibagger returns of more than 1400 per cent in just 3 years. Keep a close eye on this trending multibagger micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.