Small Cap stock engaged in providing financial services including Non-Banking Finance Services, Insurance, investment banking, corporate advisory, and many more jumped upto 8 percent in the day’s trade upon declaring robust Q2FY25 results with a 336 percent jump in Net Profits.
Price Action
With a market capitalization of Rs. 1,092 Crores, the shares of Prime Securities Limited were trading at Rs. 325.25 per equity share, up 5 percent from its previous day’s close price of Rs. 309.50.
Q2FY25 Results
Its Revenue from operations grew by 85 percent YoY from Rs. 14.4 Crores in Q2FY24 to Rs. 26.59 Crores in Q2FY25 and it grew by 16 percent QoQ from Rs. 22.87 Crores in Q1FY25 to Rs. 26.59 Crores in Q2FY25.
Its Net Profit grew by 336 percent YoY from Rs. 3.95 Crores in Q2FY24 to Rs. 17.2 Crores in Q2FY25 and it grew by 42 percent QoQ from Rs. 12.1 Crores in Q1FY25 to Rs. 17.2 Crores in Q2FY25. Its Net Profit Margin increased from 25.64 percent in Q2FY24 to 57.66 percent in Q2FY25.
Acquisition
The Board of Directors of Prime Securities Limited has considered and approved the proposal to acquire upto 51 percent stake in Ark Neo Financial Services Private Limited a technology platform, for loans against securities in the realm of a loan service provider for a consideration of Rs. 7 Crores in one or more tranches.
The proposed investment would result in providing Prime Securities Limited guidance and governance to expand the scope and services into desired segments of these businesses, catering to a large financial services consumer market.
About the Company
Prime Securities Limited is in the business of providing financial services including Non-Banking Finance Services, Insurance, investment banking, corporate advisory, and other related services.
It specializes in providing value-added advice and services to its clients on complex strategic and financial decisions and transactions focused on fundraising, mergers and acquisitions, equity and debt private placements, initial public offerings, corporate advisory, and capital restructuring.
Written by: Bharath K.S
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