Despite the drop in stock value, several firms’ financial results show favorable developments. The disparity between stock performance and financial soundness demonstrates the intricacies of market dynamics. Understanding the fundamental causes of these divergent swings is critical for investors navigating unpredictable market situations.
Here’s the stock that fell despite reporting strong financial results in Q3FY24:
Bank of India
Treasury Operations, Wholesale Banking, and Retail Banking are the three Bank of India sectors. The Treasury operations division encompasses the complete investment portfolio, which consists of government and other securities, money market activities, and foreign exchange operations.
With a market capitalization of Rs 63,122.74 crore, the shares closed at Rs 138.55 per share, decreasing around 8.67 percent as compared to the previous closing price of Rs 151.60 apiece.
Looking into the company’s Performance, Bank of India’s revenue increased by 2 percent on a quarter-on-quarter basis from Rs.15,062 crores in Q2FY24 to Rs. 15,319 crores in Q3 FY24. Further, revenue increased by 19 percent year on year from Rs. 12,796 crore in Q3FY23 to Rs. 15,319 crore in Q3FY24.
Bank of India’s net profit increased by 28 percent on a quarter-on-quarter basis from Rs.1,499 crore in Q2FY24 to Rs. 1,931 crore in Q3FY24. Further, net profit increased by 111 percent yearly from Rs 915 crore in Q3FY23 to Rs. 1,931 crore in Q3FY24.
Arman Financial Services Ltd
Arman Financial Services Limited is an Indian-based holding corporation. The business is a non-banking financing business (NBFC). The company works through the Financing section. The company primarily lends to the two-wheeler, microenterprise (MSME), and microfinance segments.
With a market capitalization of Rs 2,235.43 crore, the shares closed at Rs 2,284.00 per share, decreasing around 6.10 percent as compared to the previous closing of Rs 2,432.45 apiece.
Looking into the company’s Performance, company’s revenue increased by 5 percent on a quarter-on-quarter basis from Rs.160 crores in Q2FY24 to Rs. 169 crores in Q3 FY24. Further, revenue increased by 64 percent year on year from Rs. 103 crore in Q3FY23 to Rs. 169 crore in Q3FY24.
The company’s net profit increased by 2 percent on a quarter-on-quarter basis from Rs.41 crore in Q2FY24 to Rs. 42 crore in Q3FY24. Further, net profit increased by 90 percent yearly from Rs 22 crore in Q3FY23 to Rs. 42 crore in Q3FY24.
Written by:- Abhishek Singh
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