6,000 per cent returns in this multibagger penny stock under Rs 20: This IT Company Reports 1,500 per cent Net Profit Growth!
From Rs 0.19 per share to Rs 12.08 per share, the stock returned over 6,257 per cent in just 5 years.
Cressanda Solutions Ltd announced its Quarterly Results for the June quarter on August 14, 2024.
The company's quarterly revenue for June 2024 stood at Rs 17.48 crore, reflecting a 23.71 per cent year-over-year increase from Rs 14.13 crore in June 2023, but a significant 73.29 per cent decrease from Rs 65.45 crore in March 2024. Net profit for June 2024 was Rs 2.02 crore, marking a 1,583.33 per cent rise from Rs 0.12 crore in June 2023, though it declined by 30.10 per cent compared to Rs 2.89 crore in March 2024. On a yearly basis, the company's revenue grew from Rs 87 crore in FY23 to Rs 205 crore in FY24, a 135.63 per cent increase, while net profit rose from Rs 6 crore to Rs 14 crore, showing a 133.33 per cent growth.
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Cressanda Solutions Ltd is a software development company, which engages in the provision of middleware products, systems integration services, and bespoke software solutions. Its services include information technology, software development, digital media, and information technology enabled services.
Earlier, Cressanda has announced a partnership with Shaurrya Teleservices Pvt Ltd to offer WiFi and Content on Demand (COD) services on a pilot basis for a long-distance train running from Howrah to Barmer. This initiative aims to improve digital connectivity on trains and stations.
In addition, Cressanda's Concierge Services tender has been approved to provide wheelchair services, starting at Howrah station from August 1, 2024. This service will eventually expand to Sealdah and other divisions of Eastern Railways. Cressanda is also acquiring the Rail Services firm's app, "RAIL SERVICES" and "RAIL SERVICES MANAGER," which helps commuters book wheelchair services easily.
The company is a micro-cap company having a market cap of Rs 511 crore with a 5-year stock price CAGR of 128 per cent. The stock gave multibagger returns of over 331 per cent in just 3 years whereas BSE Small-Cap Index is up by 108 per cent. From Rs 0.19 per share to Rs 12.08 per share, the stock returned over 6,257 per cent in just 5 years.
Investors should keep an eye on this IT stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.