On Wednesday, the shares of an NBFC rose 20 percent to Rs 110.8 per share after the company announced impressive June quarter financial results.
At 12:20 p.m. on the Bombay Stock Exchange, Visco Trade Associates Ltd shares were trading at Rs 99.84 per share, up Rs 7.36 or 7.96 percent from the previous close price. The company has a market value of Rs 47 crore.
As per the company’s exchange filing, the Company’s total income increased by 230 percent to Rs 43 crore in Q1FY24 as compared to Rs 13 crore in the corresponding quarter of the previous year Q1FY23, while the company’s net profit increased to Rs 7.8 crore in the latest quarter as compared from a loss of Rs 2.37 crore in the same quarter last year.
The company’s revenue from operations climbed by 43 percent quarter on quarter in the June 2023 quarter, compared to Rs 30 crore in the March 2023 quarter And the net profit grew to Rs 7.8 crore from a loss of Rs 8.5 crore in the preceding quarter.
Visco Trade Associates Ltd shares have increased from Rs 49.40 to 110.80, yielding multibagger returns of 124 percent. As a result, if an investor bought 1 lakh shares of the company in the previous year, their holdings are now worth 2.24 lakhs!
As per the latest shareholding pattern, the promoters hold 65 percent of the company, while retail investors own a 35.02 percent stake.
Visco Trade Associates Ltd is an investing firm. The Company primarily invests and holds stocks, debentures, debenture stocks, bonds, warrants, liabilities, and other assets.
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Written by Omkar Chitnis
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