Shares of this financial services company increased by 1.8 percent after the company announced earnings for Q2FY24.
At 2:50, 16th october shares of Choice International Ltd were trading at Rs. 431 per share, up by 1.8 percent from previous closing price of Rs. 423.20 per share.
Such bullish stock price movements were observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) results for Q2FY24 in which total revenue has increased by 147 percent from Rs.193.9 crores in Q2FY24 to Rs. 78.5 crores in Q2FY23, in the same time period profit after tax (PAT) increased significantly by 264 percent to Rs. 29.9 crores from Rs. 8.2 crores. Company’s margins went from 10.5 percent to 15.4 percent.
With a market capitalization of 4,207.86 crores, Choice International Ltd has given 36.64 percent returns in the last 6 months and 69.12 percent returns in the last 1 year.
Promoters of the company hold 55.97 percent stakes and the public holds 29.05 percent stakes and the remaining 14.97 percent is held by FIIs.
Looking at the profitability ratios, the company reported Return on equity (ROE) of 15.08 percent and return on capital employed (ROCE) of 16.93 percent in the last financial year.
Incorporated in 1993 Choice International Ltd is engaged in the business of providing a wide range of financial services that includes Broking & Distribution, Investment Banking, Financial Services to Business Advisory, Regulatory Compliances to Government authorities & other corporate entities, Retail loan distribution, Mutual Fund distribution, technical services, and other ancillary services.
Written by: Vinit Israni
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