Penny Stock Under Rs 20: This Oil Exploration Stock Hits Upper Circuit & 52-Week High Today; Q4 FY24 Net Profits Surge by 230 per cent: Must Watch!

The company has reduced debt from Rs 24.18 crore to Rs 18.11 crore, representing around 25 per cent.

Incorporated in 2007, Aakash Exploration Services Limited specializes in providing services to the oil and gas sector. The company is certified under ISO 9001, 14001, and OHSAS 18001, ensuring high standards in its operations. AESL offers comprehensive exploration services for oil and gas fields, focusing particularly on the production stage following land survey and drilling processes. To ensure efficient production, AESL utilizes a range of equipment including Air Compressors, Coil Tubing Units, Work Over Rigs, and SRP Units. Once oil is extracted, it is transported to refineries for further processing.

At the start of today’s trading session, the Aakash Exploration Services Limited stock opened at Rs 15.57 per share, compared to yesterday’s closing figure of Rs 14.16 per share on the NSE. The stock has reached the upper circuit price limit of 10 per share, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.

As per Quarterly Results in Q4 FY24, Aakash Exploration Services Limited reported a quarterly revenue from operation of Rs 30.89 crore while the net profit of the company stood at Rs 3.51 crore in Q4 FY24 compared to a net profit of Rs 1.06 crore.

Turning attention to the annual performance of the company, it reported a revenue of Rs 92.23 crore while the company’s net profit stood at Rs 6.21 crore in FY24 compared to a profit of Rs 4.54 crore.

Regarding the shareholding pattern, the promoters own 66.67 per cent of the company and the public or retail investors hold 33.30 per cent.

Investors must keep this micro-cap stock on their radar.

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