Nettlinx Ltd, on Monday, declared 1st interim dividend for the financial year 2022-23 of Rs. 0.40 per share on a face value of Rs 10/- each. The record date has been fixed to be 17th March.
Apart from the dividend declaration, they also announced a bonus issue in a 1:1 ratio with the record date being 17th March. The total number of securities proposed to be issued or the total amount for which the securities will be issued for the purpose of bonus shares is Rs.12,08,83,120 consisting of 1,20,88,312 equity shares of Rs.10/- each.
The stock opened its trading session at Rs 206 and with a jump of around 4 percent the stock currently trades at around Rs 225.
Nettlinx Ltd is an Internet Infrastructure initiative of the Nettlinx Group offering state-of-the-art Managed Network Services to enterprises across Telangana & Andhra Pradesh. It operates through a network built on world-class technology and unparalleled infrastructure.
The company operates through a direct presence in 93+ locations and has proved to be one of the best ISPs in providing a fully converged network platform to Enterprises across the above-mentioned states.
Moreover, it offers a complete range of network solutions like the Internet, Network Management Services, Data Centre and Co-location Services Enterprise Mailing Solutions, etc. It fulfills the need to run applications like Live Video Streaming, Mailing, Web services, etc across multi-location enterprises.
Having a look at the financials of the company, it can be observed that the revenues and net profits have seen a downfall with revenues sliding down from Rs 6 crores in Q2 to Rs 4.5 crores in Q3. Their Net losses widened from Rs 7 Lakhs in Q2 and Rs 34 Lakhs during Q3.
Looking at a wider horizon of time, the company’s stock performed exceptionally well and provided multi-bagger returns of 118 percent within a span of just 1 month, and viewing even further, for a span of 6 months, the stocks are up 186 percent.
Written by Amit Madnani
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