Share price of this Birla Group stock engaged in the business of securities broking hit a 5% upper circuit to Rs. 128.65 in Tuesday’s trading session, after the company announced strong financial results for Q4 FY23-24, with a 124 percent YoY growth in the net profit.
With a market capitalisation of Rs. 727 crores, Aditya Birla Money Limited has delivered about 159.4 percent of multibagger returns in the last one year and nearly 39.8 percent of positive returns in the last six months. So far in 2024, it has given positive returns of around 12.7 percent
The fluctuations in the share prices were observed after the company announced its financial results on Monday for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The revenue from operations in Q4 FY23-24 stood at Rs. 114.06 crore representing a growth of 73 percent as compared to Rs. 66 crore in Q4 FY22-23; whereas, from Rs. 101.3 crore in Q3 FY23-24 to Rs. 114.06 crore in Q4 FY23-24, the sales increased by 12.6 percent on a quarter-on-quarter basis.
The net profit of the company improved by 8.7 percent, from Rs. 15.14 crore in Q4 FY23-24 to Rs. 16.46 crore in Q4 FY23-24, while the net profit jumped by nearly 124 percent, from Rs. 7.36 crore in Q4 FY22-23 to Rs. 16.46 crore in Q4 FY23-24.
Aditya Birla Money Limited, a subsidiary of Aditya Birla Capital Limited, is engaged in the business of securities broking and is a SEBI-registered Stock Broker.
The company provides a wide range of services, including stock broking, portfolio management, depository and e-insurance repository solutions and distribution of other financial products.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
