Penny stock at Rs 1.70 hit 20 per cent upper circuit & fresh 52-week high with heavy volume breakout; Reports turnaround net profit of Rs 1.74 crore after 5 years!
The stock is up by 70 per cent returns from its 52-week low of Re 1 per share.
Today, shares of Srestha Finvest Ltd hit 20 per cent upper circuit to Rs 1.70 per share from its previous closing of Rs 1.42 with an intraday high of Rs 1.70 and an intraday low of Rs 1.43. The stock also made a fresh new 52-week high of Rs 1.70 while its 52-week low is Rs 1. The shares of the company saw a heavy volume breakout with a spurt in volume by more than 2.30 times on BSE.
Established in 1985, Srestha Finvest Ltd. is a multifaceted financial services company that offers a range of solutions, including loans, financing, and investments. They hold a specific regulatory license: a Category B Non-Systematically Important Non-Deposit Taking NBFC - Investment and Credit Company. This allows them to provide loans secured by various assets (securities, movable and immovable properties), offer hire purchase and leasing options, and engage in trading and investing in shares.
Quarterly Results
The total increased by 710 per cent to Rs 564.16 lakh in Q4FY24 compared to the total income of Rs 69.68 lakh in Q4FY23. The company reported a net profit of Rs 506.35 in Q4FY24 compared to a net loss of Rs 461.37 crore in Q4FY23, an increase of 210 per cent.
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Annual Results
The total increased by 269 per cent to Rs 1,013.01 lakh in FY24 compared to the total income of Rs 274.56 lakh in FY23. The company reported a net profit of Rs 173.86 in FY24 compared to a net loss of Rs 497.41 crore in FY23, an increase of 135 per cent. The company reported a net profit in FY24 after reporting a net loss for the past 5 years i.e., FY23, FY22, FY21, FY20 and FY19.
The company has a market cap of Rs 98.60 crore and its 100 per cent stake is owned by the public. The stock is up by 70 per cent returns from its 52-week low of Re 1 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
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