4,575 per cent jump in net profit in this multibagger penny stock under Rs 20: This micro-cap company reports stellar quarterly and half-yearly results!

The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 6.90 per share.

Mittal Life Style Limited informed that the Board of Directors of the company has announced Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the financial year 2024. Here are the details:

According to the quarterly results, the net sales increased by 30 per cent to Rs 21.48 crore, the profit before tax increased by 5,208 per cent to Rs 38.75 crore and the net profit increased by 4,575 per cent to Rs 0.09 crore in Q1FY24 compared to Q1FY23. 

According to the half-yearly results, the net sales increased by 15.32 per cent to Rs 36.88 crore and net profit increased by 2,832 per cent to Rs 0.44 crore in H1FY24 compared to H1FY24.

According to the annual results, the net sales increased by 23 per cent to Rs 63.57 crore and net profit increased by 194.4 per cent to Rs 0.58 crore in FY23 compared to FY22.

Mittal Life Style Limited designs, manufactures and distributes fabrics and garments. The company offers silk, cotton, wool, clothes, and textile goods. Mittal Life Style serves customers in India. Earlier, the company raised funds worth Rs 1.465.89 lakh via a rights issue.

On Friday, shares of Mittal Life Style Ltd gained Rs 0.17 per cent to Rs 17.35 per share with an intraday high of Rs 17.5 and an intraday low of Rs 17.15. The stock’s 52-week high is Rs 17.95 and an intraday low of Rs 6.90 per share.

The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 6.90 per share. Investors should keep an eye on this micro-cap stock

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