Penny stock under Rs 10 in focus as company reports a turnaround 6,429 per cent jump in net profit & name change update!
The stock is down by 43.4 per cent from its 52-week high of Rs 11.47 per share while the stock is up by 53.4 per cent from its 52-week low of Rs 4.23 per share.
Today, shares of East West Freight Carriers Limited (earlier known as East West Holdings Ltd) were trading at Rs 6.49 per share same as its previous closing of Rs 6.49 per share.
East-West Holding Limited provides logistics and allied solutions through its wholly-owned subsidiary East West Freight Carriers Limited. The Company provides services in the trade of Global Logistics and Freight Forwarding. The company has a total investment of Rs 40 crore in its subsidiary. East-West Holding Limited a micro-cap company has a market cap of Rs 82.80 crore.
Consolidated Results
According to Quarterly Results, the net sales increased by 69 per cent to Rs 92.73 crore in Q1FY25 compared to net sales of Rs 54.87 crore in Q1FY24. The company reported a net profit of Rs 0.70 crore in Q1FY25 compared to a net profit of Rs 0.04 crore in Q1FY24, an increase of 1,650 per cent. In its annual results, the company reported net sales of Rs 208 crore in FY24 compared to net sales of Rs 250 crore in FY23. The company reported a net profit of Rs 7 crore in FY24 compared to a net loss of Rs 1 crore in FY23, an increase of 800 per cent.
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Standalone Results
According to quarterly results, the net sales increased by 69.2 per cent to Rs 89.46 crore in Q1FY25 compared to net sales of Rs 52.87 crore in Q1FY24. The company reported a net profit of Rs 0.38 crore in Q1FY25 compared to a net loss of Rs 0.07 crore in Q1FY24, an increase of 6,429 per cent. In its annual results, the net sales increased by 1,065 per cent to Rs 198 crore in FY24 compared to net sales of Rs 17 crore in FY23. The company reported a net profit of Rs 6 crore in FY24 compared to a net loss of Rs 1 crore in FY23, an increase of 700 per cent.
East West Holdings Limited has changed its name to East West Freight Carriers Limited, effective August 2nd, 2024. This follows the approval of a Scheme of Amalgamation by the National Company Law Tribunal on January 4th, 2024, and subsequent registration of the name change by the Registrar of Companies on July 9th, 2024. The Bombay Stock Exchange approved the name change on July 29th, 2024.
The stock is down by 43.4 per cent from its 52-week high of Rs 11.47 per share while the stock is up by 53.4 per cent from its 52-week low of Rs 4.23 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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