Telecom stock engaged in providing Telecommunication solutions to Telecom Network Operators hit a 10 percent upper circuit in the day’s trade upon posting its Q4FY24 results with a 303 percent jump in Net Profits YoY.
With a market capitalization of Rs. 442 Crores, the shares of SAR Televenture Limited hit a 10 percent upper circuit at Rs. 294.70, from its previous day’s close price of Rs. 267.95.
Its Revenue from Operations half yearly grew by 147 percent from Rs. 35.78 Crores in H1FY24 to Rs. 88.33 Crores in H2FY24 and it grew by 238 percent from Rs. 26.17 Crores in H2FY23 to Rs. 88.33 Crores in H2FY24. Annually it generated a revenue of Rs. 32.46 Crores in FY23 to Rs. 124.11 Crores in FY24, indicating a growth of 282 percent.
Its Net profit half yearly grew by 186 percent from Rs. 4.05 Crores in H1FY24 to Rs. 11.60 Crores in H2FY24 and it grew by 238 percent from Rs. 3.43 Crores in H2FY23 to Rs. 11.60 Crores in H2FY24. Annually it generated a Net Profit of Rs. 3.88 Crores in FY23 to Rs. 15.66 Crores in FY24, indicating a growth of 303.60 percent.
In Addition, it has recently entered into a revenue-sharing agreement with Bharat Sanchar Nigam Limited (BSNL) to deliver BSNL telecom services, including fixed, wireless, broadband, and many other services to end users at Sonipat, Haryana.
Sar Televenture Limited is a provider of telecommunication solutions to Telecom Network Operators, engaged in the installation and commissioning of 4G and 5G Towers, Optical Fibre Cable (OFC) Systems, and dealing in network equipment.
Sar Televenture Limited already has installed 373 4G/5G Towers which are leased onward to Airtel. Given the expected LOIs from telecom giants like AIRTEL, Vodafone, Jio, etc. the company is planning to install another 6000+ 5G/4G Towers in the next 2 years.
Written by: Bharath K.S
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