Shares of this mid-cap stock jumped close to 10 percent in Wednesday’s trading session after the company announced robust results for Q3FY23–24, i.e., for the quarter ended December 2023. In the past month itself, the company’s share price has jumped nearly 25 percent.
With a market capitalization of Rs 44,768.41 crores, the stocks of PB Fintech Limited started their trading session on Wednesday at Rs 963.95 and currently trade at Rs 992.20, gaining nearly 10 percent compared to the previous closing levels of Rs 911.60 apiece.
The company’s shares witnessed an intra-day high price of Rs 1,044.90 which is also marked as the company’s fresh 52-week high price.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 812 crores during Q2FY24 to Rs 871 crores during Q3FY24, and the bottom line numbers, during the same period, transitioning from net losses of Rs 21 crores to net profits of Rs 37 crores.
Moreover, the company, yearly, reported an increase in both metrics mentioned above with the operating revenues rising from Rs 610 crores during Q3FY23 to Rs 871 crores during Q3FY24, and the latter, keeping the timeframe the same, shifted from net losses of Rs 88 crores to net profits of Rs 37 crores exhibiting an increase of 142 percent.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 132 percent to its investors, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.32 lakhs.
According to the latest shareholding data available for the quarter ended December 2023, Foreign Institutional Investors (FIIs) hold a 46 percent stake, and the Public (retail) investors hold a 34.2 percent stake in the company.
PB Fintech Limited is an online platform for insurance and many other lending products. The company provides convenient access to credit, insurance, and other financial products. Earning its revenue from operations within India itself, the company has two broad operating segments including the ‘insurance services’ segment and others.
Written by Amit Madnani
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