Penny stock under Rs 30: This micro-cap investment company reports a 76 per cent jump in net sales!

Penny stock under Rs 30: This micro-cap investment company reports a 76 per cent jump in net sales!

Kiran Shroff
/ Categories: Trending, Penny Stocks

The stock is down by 35 per cent in the past 1 year but gave multibagger returns of over 300 per cent in 3 years.

The Indian stock market witnessed a decline today, with the benchmark BSE Sensex Index falling by 0.25 per cent to close at 73,155. Though the market was in red, shares of BLB Ltd gained 0.49 per cent to Rs 22.65 per share from its previous close of Rs 22.54. The stock had traded within a range of Rs 25.14 and Rs 22.06 during the day. The shares of the company saw a spurt in volume by more than 3.8 times on BSE.

BLB Ltd., founded in 1981, is a corporate stockbroker within the BLB group specializing in "jobbing and arbitrage" (trading securities for small and immediate profits) and broader investment activities across shares, securities, and commodities.

The company announced its Quarterly Results (Q3FY24) and nine-month results for the fiscal year 2024. According to the quarterly results, the net sales increased by 76 per cent to Rs 44.35 crore and net profit increased by 20.3 per cent to Rs 1.48 crore in Q3FY24 compared to Q2FY24. The company's net profit surged 31.5 per cent to Rs 4.97 crore in the first nine months, driven by a strong showing in net sales of Rs 109.3 crore.

The company has a market cap of Rs 119 crore with a 3-year stock price CAGR of 60 per cent. According to the shareholding pattern as of September 2023, the promoters of the company own a 45.35 per cent stake, FIIs own 4.88 per cent and the rest of the stake is owned by the general public i.e. 49.77 per cent.  The stock is down by 35 per cent in the past 1 year but gave multibagger returns of over 300 per cent in 3 years.

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

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