270 per cent jump in net profit in this penny stock below Rs 5: This micro-cap company reported stellar quarterly and half-yearly results!

The stock gave over 40 per cent returns from its 52-week low of Rs 2.40 per share.

On Monday, one of the Top Gainers on BSE, shares of Darshan Orna Ltd gained 14 per cent to an intraday high of Rs 3.35 per share from its previous closing of Rs 2.94. The shares of the company saw a spurt in volume by more than 8 times on BSE.

The sudden rise in the stock price is due to the company announcing stellar Quarterly Results and half-yearly results. Here are the details:

Quarterly Results: The net sales increased by 9.03 per cent to Rs 3.33 crore, profit before tax increased by 345 per cent to Rs 0.13 crore and net profit increased by 270 per cent to Rs 0.97 crore in Q1FY24 compared to Q1FY23.

Half-yearly Results: The company reported net sales of Rs 5.05 crore in H1FY24 compared to Rs 7 crore in H1FY23. The profit before tax increased by 215.64 per cent to Rs 1.40 crore and net profit increased by 179.1 per cent to Rs 1.04 crore in H1FY24 compared to H1FY23.

Darshan Orna Limited wholesales jewellery and ornaments. The company offers chains, anklets, rings, earrings, necklaces, and bracelets in traditional, Indo, Indo-Western, and modern designs. Darshan Orna operates in India. The company has a market cap of over Rs 15 crore.  The company is virtually debt-free, with only Rs 0.54 crore in debt.

The stock is trading at 1.07 times its book value. The stock gave over 40 per cent returns from its 52-week low of Rs 2.40 per share.

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