Penny Smallcap company shines with an impressive 37 per cent surge in PAT
Over the past six months the company's shares have generated stellar return of 56.58 per cent while during the same time frame, BSE Services have risen by 16.94 per cent
RattanIndia Enterprises Limited, which encompasses a wide range of businesses, has reported strong financial results for the second quarter of FY24 and the half-year results. RattanIndia Enterprises serves as the flagship company of the Rattanindia Group for its new-age growth businesses. The company is dedicated to businesses with cutting-edge technologies. RattanIndia Enterprises comprises tech-focused new-age businesses, including e-commerce, electric vehicles, fintech, and drones. It owns brands such as Cocoblu, Revolt, Neobrands, Neosky, and Wefin.
Talking about the financials on consolidated basis, In Q2FY24 the company recorded a robust financial performance with a 36.64 per cent year-on-year increase in net profit, reaching Rs 140.48 crore compared to Rs 102.81 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company's total net revenue showed an increase of 26.29 per cent from Rs 1281.26 crore to Rs 1681.1 crore compared to the same quarter in the preceding year.
Sequentially, the net profit for the quarter ending on September 30, 2023, showed an decrease of 21.14 per cent from Rs 178.13 crore. However, in Q2FY24, the company's total net revenue registered an increase of 9.90 per cent compared to the previous quarter, settling at Rs 1472.32 crore.
Yesterday, the shares of the company closed at Rs 62.54, marking a 4.83 per cent increase. The shares of the company have 52-week high at Rs 68.75 and 52-week low standing at Rs 32.05. The company currently holds a market capitalization of approximately Rs 8,600 crore. Over the past six months, the company's shares have generated stellar return of 56.58 per cent while during the same time frame, BSE Services have risen by 16.94 per cent.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Disclaimer: The article is for informational purposes only and not investment advice.