Multibagger Small-cap capital good company locked in upper circuit after reported bumper earnings!

Over the past year shares of company has given staggering return of 134 per cent.

GE T&D India was locked in an upper circuit at Rs 283.60 today, after reporting its unaudited financial results yesterday following the market's close for the first quarter that ended on June 30, 2023 or Q1FY24.

With a presence spanning over 100 years in India, GE T&D India (formerly known as ALSTOM T&D India Limited) holds a leading position in the Power Transmission & Distribution business. Its product portfolio ranges from Medium Voltage to Ultra High Voltage (1200 kV), catering to Power Generation, Utility, Industry, and Infrastructure markets. Presently GE T&D represents the listed entity of GE’s Grid Solutions business in India.

The company has reported a rise of 344.02 per cent in net profit reaching Rs 28.24 crore for the first quarter that concluded on June 30, 2023 compared to Rs 6.36 crore for the corresponding quarter in the previous year. The total income of the company witnessed a 21.25 per cent increase reaching Rs 729.53 crore for Q1FY24 as opposed to Rs 601.66 crore for the same period the prior year.

In sequential comparison the company's net profit for the quarter ending on June 30, 2023 marked an increase from net loss of Rs 15.35 crore. For Q1FY24, the company's total net revenue surged by 3.22 per cent from Rs 706.77 crore in the similar quarter of the previous year.

The script was closed at Rs 270.10 yesterday and today it opened at Rs 283.60. Currently it locked in upper circuit by 5 per cent at Rs 283.60. The script hit its 52-week high at Rs 284 yesterday while it holds a 52-week low of Rs 98.90. Presently the company has market capitalisation of around Rs 7,260 crore. Over the past year the company's shares have yielded a multibagger return of 134.70 per cent.

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