Penny stock under Rs 10: This micro-cap company reports a 500 per cent jump in net revenue!

As of June 2023, the promoters of the company own 74.21 per cent of the stake, which is the majority and the remaining 25.79 per cent of the stake is owned by the general public.

OTCO International Ltd develops and markets computer software. The company offers enterprise software solutions for the microfinance industry, financial institutions, educational institutions, and religious organisations, for database management; announced its Quarterly Results ended June 30, 2023. Details below:

Quarterly Updates – Q1FY24 vs Q1FY23: 

• Net sales stood at Rs 0.36 crore in Q1FY24, up 500 per cent compared to Q1FY23. 
• Operating profit increased by 160 per cent to Rs 0.03 crore in Q1FY24 over Q1FY23.
• Profit before tax stood at Rs 0.03 crore in Q1FY24, up 111 per cent compared to Q1FY23.  
• Profit After Tax of Rs 0.03 crore, up 160 per cent compared to Q1FY23.  
• The EPS for Q1FY24 is Rs 0.03.

On Friday, shares of OTCO International Ltd plunged 8.70 per cent to Rs 4.83 per share from its previous closing of Rs 5.29. The stock traded at an intraday high of Rs 5.30 and an intraday low of Rs 4.82. The stock’s 52-week high is Rs 7.80 and its 52-week low is Rs 4.12.

As of June 2023, the promoters of the company own 74.21 per cent of the stake, which is the majority and the remaining 25.79 per cent of the stake is owned by the general public.

The stock is down by 20 per cent in 2 years and over 60 per cent in 3 years. The company has a market cap of Rs 6.26 crore. Investors should keep an eye on this micro-cap stock.

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