The companies with less market capitalization have reported impressive results in the June quarter of FY24, with robust margin expansion, healthy loan growth, and asset quality improvements.
Here are three penny stocks with net profit growth of up to 170% YoY
Arihant Capital Markets Ltd
Arihant Capital Markets Limited is a financial services company offering capital market broking, merchant banking and other financial services.
Arihant Capital Markets Ltd is a penny-cap stock with a market capitalization of Rs 567 crore. On Friday, shares were closed at Rs 54.50 a share, down 2.15 percent from the previous close.
The company reported a 71 percent rise in net profits year on year, i.e. from Rs 7 crores in Q1FY23 to Rs 12 crores in Q1FY24. Further, in the same time frame, the company’s revenue jumped by 23 percent from Rs 35 crore to Rs 43 crore.
Arihant Capital Markets has adequate margins, with a net profit margin of 20.94 percent and an operating margin of 34.72 percent.
Baid Finserv Ltd
Baid Leasing and Finance Company Ltd is a NBFC focused on Vehicle Financing and Providing loans against Property.
Baid Finserv Ltd is a penny-cap stock with a market capitalization of Rs 461 crore. On Friday, shares were closed at Rs 38.40 a share, down 2.66 percent from the previous close.
The company reported a 130 percent rise in net profits year on year, i.e. from Rs 2.43 crores in Q1FY23 to Rs 5.61 crores in Q1FY24. Further, in the same time frame, the company’s revenue increased by 50 percent from Rs 12 crore to Rs 18 crore.
The company’s margins have improved over the years, with a net profit margin of 18.92 percent and an operating margin of 57.72 percent.
Ravindra Energy Ltd
Ravindra Energy Ltd is in the business of Selling Solar Pumps, Setting up of Solar Generation Power Plant and generation and Sale of Power.
Ravindra Energy Ltd is a penny-cap stock with a market capitalization of Rs 636 crore. On Friday, shares were closed at Rs 46.29 a share, down 1.34 percent from the previous close.
The company reported a 170 percent rise in net profits year on year, i.e. from Rs 1.27 crores in Q1FY23 to Rs 3.45 crores in Q1FY24. Further, in the same time frame, the company’s revenue decreased from Rs 231 crore to Rs 57 crore.
The company’s margins have improved over the years, with a net profit margin of 6.62 percent and an operating margin of 13.97 percent.
Written by Omkar Chitnis
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