This small-cap renewables stock has rallied 4400 per cent; Q3FY23 net profit jumps over 100 times!
Talking about the stock performance, the stock has displayed outstanding performance as on all time frame it has delivered positive returns.
Waaree Renewables Technologies is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard.
The stock has been buzzing on the bourses as it has jumped nearly 5 per cent and trades above Rs 600 mark. The stock is in limelight owing to fabulous earnings reported by the company.
For the quarter ended December 31, 2022, company reported revenue from operations of Rs 74 crore as against Rs 45 crore in the same period last year, which resulted in a growth of 64 per cent YoY. Operating profit of the company jumped to Rs 36 crore as against Rs 4 crore in the same period last year. Operating margin for the company stood at 48 per cent. Now, hold your breath as you will be stumped after hearing the net profit, as, the company reported a net profit of Rs 25 crore as against Rs 0.22 crore in quarter ended December 31, 2021, which translates to an astronomical jump of 11,264 per cent!
Talking about the stock performance, the stock has displayed outstanding performance as on all time frame it has delivered positive returns. In the last one-week, the stock has advanced 21 per cent, in the last one-month it is up by 22 per cent, last three months it has gained 35 per cent, last one-year it has surged 73 per cent and in the last three-years it has jumped nearly 4400 per cent, hence, making it a multibagger smallcap stock.
The stock hit a fresh 52-week high of Rs 630 on the BSE on Tuesday.