Penny Stock Under Rs 5: This micro-cap company reports a 234 per cent jump in revenue!
The stock is up by 23.10 per cent from its 52-week low of Rs 3.90 per share.
Bright Solar Ltd is into assembling DC/AC solar pumps and solar pump systems, EPC contracts of solar photo voltaic water pumps, consulting of projects and tenders, water supply and sewerage infra project. The company announced its half-yearly (H2FY23) and annual (FY23) results for the year ended March 31, 2023.
Here are the details:
According to the Half-Yearly Results (H2FY23), the Revenue stood at Rs 19.06 crore, an increase of 234.39 per cent over H2FY22. The company reported a net loss of Rs 0.24 crore in H2FY23 compared to a net loss of Rs 4.61 crore in H2FY22.
According to the annual Results (FY23), the Revenue stood at Rs 23.58 crore, an increase of 228.05 per cent over FY22. The company reported a net profit of Rs 0.05 crore in FY23 compared to a net loss of Rs 7.38 crore in FY22.
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On Monday, shares of Bright Solar Ltd zoomed 2.10 per cent to an intraday high of Rs 5 per share. At 03:30 pm, shares of the company ended the day in the red, down 2.04 per cent to Rs 4.75 per share.
This micro-cap company has a market cap of Rs 12 crore. The stock is up by 23.10 per cent from its 52-week low of Rs 3.90 per share. Bright Solar Ltd is an SME stock which should be kept under the radar.