Shares of this micro-cap stock under Rs 100 jumped approximately 4 percent in Tuesday’s trading session after the company announced robust results for Q3FY23–24, i.e., for the quarter ended December 2023.
With a market capitalization of Rs 147 crores, the stocks of Odyssey Technologies Limited started their trading session on Tuesday at Rs 89.01 and currently trade at Rs 92.65, gaining around 4 percent compared to the previous closing levels of Rs 89.61 apiece.
In addition, the company’s share witnessed an intra-day high price of Rs 96, inching towards the company’s 52-week high price of Rs 103.85.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
On a yearly basis, the company reported an increase in both the prime indicators of business, viz, operating revenues as well as after-tax profits. The former rose from Rs 5.72 crores during Q3FY23 to Rs 6.29 crores during Q3FY24, and the latter, keeping the timeframe the same, shifted from Rs 82.93 lakhs to Rs 85.63 lakhs.
Moreover, the company, during the recent financial quarters too, reported a jump in the metrics mentioned above with the operating revenues taking a shift from Rs 5.58 crores during Q2FY24 to Rs 6.29 crores during Q3FY24, and the after-tax profits, during the same period, rising from Rs 24.6 lakhs to Rs 85.63 lakhs representing an increase of approximately 248 percent.
The gross margins of the company, though dipped during the recent financial years, have maintained healthy numbers with a margin of 34.77 percent reported during FY22-23.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 55.26 percent stake, and the Public (retail) investors hold a 44.73 percent stake in the company.
Odyssey Technologies Limited is engaged in the business of computer programming and other ancillary activities. The company has a range of software applications based on protocols and cryptographic algorithms.
Written by Amit Madnani
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