The Indian equity benchmarks BSE Sensex and NSE Nifty 50 opened higher on Tuesday amid positive cues from global markets. This has led many stocks to trade in green on Tuesday. Along with the optimism in the markets, the strong quarterly numbers posted by companies are making the stocks rally.
Here are 3 stocks that have jumped by more than 6% on Tuesday after posting strong Q3 results:
Route Mobile Limited
In the early hours of Tuesday, the stock zoomed by more than 10 percent and was trading at Rs 1,254 levels. The scrip gained after the company posted robust quarterly numbers.
In Q3FY23, their revenue from operations grew significantly by 75.16 percent at Rs 985.72 crore up from Rs 562.77 Crore Year on Year. The consolidated net profit of the company jumped 84.40 percent to Rs 85.36 crore up from Rs 48.28 Crore in Q3FY23. In addition, the board of the company is set to meet on Thursday, January 26th, 2023 to consider a second interim dividend, if any, for the financial year 2022-23.
Route Mobile Limited is an India-based company, which provides communication platform as a service (CPaaS) solutions to enterprises, over-the-top (OTT) players, and mobile network operators (MNO).
Zensar Technologies Limited
The shares of the IT company gained as much as 6 percent in the early hours of Tuesday and were trading at Rs 233 levels. The stocks gained after its total revenue and net profit jumped Year on Year.
In the third quarter of FY23, the company posted a total revenue of Rs 1,197.6 Crore which was an increase of 9 percent Year on Year from Rs 1,102.5 Crore. Their net profit in the period stood at Rs 76.5 Crore which declined by 17 percent from Rs 92.4 Crore YoY, however, rose by 35 percent QoQ from Rs 56.8 Crore.
Zensar is a leading technology solutions company with a strong engineering pedigree. The company has a strong international presence and serves over 147 global clients.
Poonawalla Fincorp Limited
The shares of the NBFC zoomed by more than 5 percent to trade at Rs 305 levels on Tuesday after they reported a 88 percent jump in its quarterly net profit.
Their revenue surged by more than 37 percent to be at Rs 697.77 Crore up from Rs 507.96 Crore in the same period a year earlier. Their profits zoomed by more than 80 percent Year on Year to be at Rs 182.44 Crore from Rs 102.19 Crore. Its gross non-performing assets (NPAs) fell to 1.69 percent, down by 236 basis points YoY. The net NPAs stood at 0.89 percent, down 108 basis points.
Poonawalla Fincorp Limited formerly known as Magma Fincorp Limited is a Cyrus Poonawalla group Non-Banking Financial Company (NBFC) that focuses on consumer and MSME financing.
Written by Anoushka Roy
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