In Thursday’s early trade, The shares of the real estate property developer locked around a 20 percent upper circuit after the company revealed strong June quarter financial results.
Crane Infrastructure Ltd shares touched the upper circuit at Rs 20.01 a share, up Rs 3.33 on the Exchange, and the company has a market capitalization of Rs 14 crores.
As per the company’s exchange filing, the Company’s revenue increased by 860 percent to Rs 2.51 crore in Q1FY24 as compared to Rs 0.26 crore in the corresponding quarter of the previous year, Q1FY23. In comparison, the company’s Net Profit Increased by 660 percent to Rs 0.84 crore in the latest quarter as compared to Rs 0.11 crore in the same quarter last year.
Based on quarterly comparisons The company’s income from operations jumped by 860 percent in the June 2023 quarter, compared to Rs 0.26 crore in the previous quarter, while net profit increased by 2700 percent from Rs 0.03 crore.
The company’s stock has earned multibagger returns of 135 percent in the last year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 2.35 lakhs after a year.
The company has maintained solid margins, With a net profit margin of 38.08 percent and an operating margin of 50.96 percent,
According to the recent shareholding pattern, the promoters own 48.84 percent of the company, while retail investors hold 50.79 percent.
Crane Infrastructure Ltd. is in the business of real estate and property development in India.
Since penny stocks are illiquid, even a small number of orders might cause a circuit limit. Individual investors should do extensive research before investing in high-return penny stocks since they lack consistency in performance and pose a high risk to retail investors.
Written by Omkar Chitnis
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