Share price of this micro-cap stock and a financial service provider moved up by 9.55 percent on NSE to hit an intraday high at Rs. 960 in the trading session of Wednesday, after reporting Q4 results with a rise in net profit by 37.2 percent QoQ and 966 percent YoY.
With a market capitalisation of Rs. 985.6 crore, the shares of Wealth First Portfolio Managers Limited moved up by 5.53 percent and closed in the green at Rs. 925, compared to its previous closing price of Rs. 876.55.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the NSE on Wednesday.
The consolidated revenue from operations stood at Rs. 14.6 crore in Q4 FY23-24, increasing by 179 percent YoY from Rs. 5.23 crore in Q4 FY22-23, but declining by 2.6 percent QoQ from Rs. 15 crore in Q3 FY23-24.
The company witnessed a rise in the net profit by 967 percent YoY from Rs. 1.3 crore in Q4 FY22-23 to Rs. 13.86 crore in Q4 FY23-24, while on a quarter-on-quarter basis, PAT increased by nearly 37.2 percent from Rs. 10.1 crore in Q3 FY23-24 to Rs. 13.86 crore in Q4 FY23-24.
Further, the Board of Directors of the company has recommended a final dividend of Rs. 7 per equity share of face value of Rs. 10 each for the financial year ended on March 31, 2024, on nearly 1.06 crore Equity Shares.
The stock has delivered multibagger returns of nearly 234 percent in the last one year, while around 133.4 percent in the last six months. So far in 2024, the company has given about 104.2 percent of multibagger returns.
As of March 2024, the Promoters’ and Public holdings remain unchanged at 74.01 percent and 25.99 percent, respectively, since the last two quarters.
Wealth First Portfolio Managers Limited is a financial service provider for various types of financial products available only for the Indian market and offers research for products that deliver compatible performance in terms of yield.
The company’s product portfolio comprises government bonds and securities, direct equity, cash management services, mutual funds, insurance products, commodities, and market-making services.
Written by Shivani Singh
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