Net profitability of this multibager stock zooms more than 200 per cent!
The profit after tax of the company witnessed a massive surge of 207.54 per cent on YoY basis to Rs 23.25 crore.
On Tuesday, shares of Praveg Ltd zoomed more than 3.8 per cent to make an intraday high of Rs 453. The scrip witnessed a massive spurt in volume by more than 1.36 times and closed 2.56 per cent up at Rs 447.15. On February 13, 2023, the stock made a new 52-week high of Rs 454.85.
For the quarter ended December 31, 2022, the company’s total revenue jumped more than 79 per cent from last year’s same quarter to Rs 28.47 crore. The EBITDA levels rose by a massive 107.36 per cent from Q3FY22 to Rs 17.19 crore. The net profitability of the firm shot up by more than 111 per cent from the corresponding quarter last year to Rs 11.57 crore.
For 9M FY23, total revenues of the company surged more than 131 per cent from 9M FY22 to Rs 65.81 crore. The EBITDA level shot up by more than 188 per cent on YoY basis to Rs 35.37 crore. The profit after tax of the company witnessed a massive surge of 207.54 per cent on YoY basis to Rs 23.25 crore.
The company has seen a significant increase in travel demand during the first 9 months of the FY23, which has had a positive impact on the company's overall performance. Looking ahead, the company expects this trend to continue and sees great potential for further growth in the future. By adding new resorts to its portfolio, the company is confident that it will be able to enhance its performance even further. This is a strategic move that will allow the company to tap into new markets and provide customers with even more diverse travel options.
Praveg is a leading company having presence in diverse business segments like exhibition management, event management, tourism, hospitality and publication. Its core strength lies in independent and sophisticated infrastructure, expert and experienced manpower and in-house creative studio.
The stock has witnessed massive buying as it has given multibagger returns of more than 225 per cent in just 1 year and more than 165 per cent in just 6 months. In the past 1 month, the stock has surged more than 30 per cent. Keep a close eye on this trending multibagger stock.