Penny stock under Rs 15: This micro-cap company reports a 211 per cent jump in net profit; Promotors sold 2,05,000 shares!

The stock gave multibagger returns of 240 per cent in 3 years.

On Friday, one of the Top Gainers on BSE, shares of Vivanza Biosciences surged 5 per cent upper circuit to Rs 11.18 per share from its previous closing of Rs 10.65. The stock’s 52-week high of Rs 20.78 and its 52-week low is Rs 7.55.

Vivanza Biosciences Ltd is engaged in the business of trading pharmaceutical products. The products of the company include gloves and surgical. The company announced stellar Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 460.44 per cent to Rs 7.62 crore, operating profit increased by 36.9 per cent to Rs 0.37 crore and net profit increased by 55.95 per cent to Rs 0.26 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 354.42 per cent to Rs 16.85 crore, operating profit increased by 118.57 per cent to Rs 0.98 crore and net profit increased by 211.11 per cent to Rs 0.76 crore in H1FY24 compared to H1FY23.

Previously, the stock ex-traded stock split on the record date of Friday, March 24, 2023, i.e., sub-division of 1 equity share with a face value of Rs 10 each into 10 equity shares with a nominal value of Rs 1 each in the company's share capital.

 Vivanza Biosciences is a micro-cap company which had a market cap of Rs 45 crore. During the September quarter (Q2FY24), one of the company's two promoters, Hemant Amrish Parikh, sold 205,000 shares at Rs 13.4 per share of the company, representing 0.50 per cent of the company's outstanding shares, aggregrating to Rs 27 lakh. 

The stock gave multibagger returns of 240 per cent in 3 years.