New-firm that has multiple businesses including manufacturing electric vehicles and Drones jumped 6 percent in the day’s trade following the release of its Q3FY24 results, with a 154 percent jump in net profit.
With a market capitalization of Rs. 12,596 Crores, the shares of Rattanindia Enterprises Limited were trading at Rs. 91.13, up 2.37 percent from its previous day’s close price of Rs. 89.02
Its revenue from operations grew by 43.42 percent YoY from Rs. 1,152.8 Crores in Q3FY23 to Rs. 1,653.4Crores in Q3FY24 and it grew 18.59 percent QoQ from Rs. 1,394.2 Crores in Q2FY24 to Rs. 1,653.4 Crores in Q3FY24.
Its Net Profit grew by 154.10 percent YoY from a loss Rs. 34.62 Crores in Q3FY23 to a profit of Rs. 18.73 Crores in Q3FY24 and it grew 33 percent QoQ from Rs. 14.07 Crores in Q2FY24 to Rs. 18.73 Crores in Q3FY24.
RattanIndia Enterprises Limited is a new-age firm having operations in multiple businesses which include e-commerce, electric vehicles, fintech, and drones.
RattanIndia Enterprises has multiple businesses, it maintains an e-commerce platform in the name of Cocoblu Limited manufactures and sells drones and electric vehicles called Revolt which is one of the leading e-bikes in India, and many more.
In FY23, it generated 98.73 percent of its revenue from the sale of goods through the e-commerce marketplace, 1.20 from the Sale of bikes/drones, and the rest 0.07 percent from the sale of traded goods/spare parts.
Written by: Bharath K.S
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