Its results season with a bunch of companies clocking huge improvements in the net profit numbers during recent quarters and on an annual basis as well.
Listed below are three stocks that registered a net profit growth of more than 2,500 percent comparing the June 2023 quarter and the same quarter the previous year:
Indian Oil Corporation Limited
With a market capitalization of Rs 1.30 Lakh crores, the shares of Indian Oil Corporation Limited (IOCL) are currently trading at Rs 91.60, slipping about 0.70 percent as compared to the previous close of Rs 92.25 apiece. The company’s scrip is trading near its 52-week high price recorded at Rs 101.45.
Having a glance at the net profit figures reported by the company, there was a jump noted from Rs 515 crores during June 2022 to Rs 14,396 crores during June 2023 equating to a change of 2,695 percent.
IOCL is engaged in a wide range of businesses including refining and pipeline transportation of petroleum products in India. The company conducts business through the sale of Petroleum Products, Petrochemicals, and other businesses.
Sudarshan Chemical Industries Limited
With a market capitalization of Rs 3,400 crores, the shares of Sudarshan Chemical Industries Limited are currently trading at Rs 495.60, slipping about 0.70 percent as compared to the previous close of Rs 499.20 apiece.
Having a glance at the net profit figures reported by the company, there was a jump noted from Rs 7 crores during June 2022 to Rs 266 crores during June 2023 equating to a change of 3,700 percent.
Deriving a majority of its revenues from domestic operations within India, Sudarshan Chemical Industries Limited is associated with the process of manufacturing colour & effect pigments.
Ceat Limited
With a market capitalization of Rs 9,300 crores, the shares of Ceat Limited are currently trading at Rs 2,307, slipping about 1.60 percent as compared to the previous close of Rs 2,347.45 apiece.
Having a glance at the net profit figures reported by the company, there was a jump noted from Rs 2 crores during June 2022 to Rs 146 crores during June 2023 equating to a change of 7,200 percent.
Ceat Limited is a tyre manufacturer having a diverse product portfolio including off-the-road (OTR) vehicles, light commercial vehicles category, and also including truck tyres.
Written by Amit Madnani
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