Multibagger in demand: SME stock reports five-fold jump in revenue; fixes record date for dividend. Do you own it?

Do keep a close watch on this stock on Monday.

The earning season has picked up pace after the IT major stocks and some of the blue-chip stocks reporting their earning. Recently, we are seeing numbers are coming in from the Mid and Small-Cap space and more importantly, the SME stocks also reporting their quarterly numbers.

One of the stocks which stands out and demands special attention of the market participant is Varanium Cloud. The stock reported its earnings on January 21 and left everyone shell-shocked as revenue from operations jumped over five-fold to Rs 109.5 crore as compared to quarter ended September 2021. The net profit of the company skyrocketed two-fold to Rs 29.6 crore as compared to quarter September 2021. The cherry on the top is that the Board of Directors have approved and declared the Interim Dividend of Rs.2/- per equity share each of the Company for the Financial Year 2022-23. February 3, 2023, is being fixed as the record date for the Members of the Company for the purpose of Interim Dividend for the financial year 2022- 23.

Interestingly, the stock jumped nearly 5 per cent on Friday in an otherwise fragile market and this stock has been super multibagger, as in the past three months the stock has delivered an eye-popping 773.27 per cent.

Talking about the company’s main operation, it is a technology company focused on providing services surrounding digital audio, video and financial block chain (for PayFac) based streaming services.

Do keep a close watch on this stock on Monday.