{"id":113636,"date":"2023-11-13T15:48:38","date_gmt":"2023-11-13T10:18:38","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=113636"},"modified":"2023-11-13T16:15:02","modified_gmt":"2023-11-13T10:45:02","slug":"stock-hits-upper-circuit-after-its-net-profit-increase-by-152-qoq-in-q2-fy24","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-hits-upper-circuit-after-its-net-profit-increase-by-152-qoq-in-q2-fy24\/","title":{"rendered":"Stock hits upper circuit after its net profit increases by 152% QoQ in Q2 FY24 \u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1212246478\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The plywood manufacturing company hits a 5 percent upper circuit after posting strong Q2 FY24 results. Since January, the stock has delivered more than 60 percent returns to its stakeholders.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1952507469\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs. 129 crores, the shares of The Western Indian Plywood Ltd opened Monday\u2019s trading session flat at Rs. 150. The share hit a 5 percent upper circuit at Rs. 157.45 which is also recorded as the company&#8217;s fresh 52-week high.&nbsp;<\/p><p>Such a positive movement was observed after the company announced its June-September results. The company\u2019s revenue increased by around 20 percent from Rs. 23.64 crores during the June quarter to Rs. 28.31 crores in the September quarter. In addition, the net profit magnified by 152 percent from Rs. 44 lakhs to Rs. 1.11 crores during the same timeframe.<\/p><p>Comparing these metrics on a YoY basis, the revenue marginally declined by 1.5 percent from Rs. 28.76 crores during Q2 FY23 to Rs. 28.31 crores in Q2 FY24. On a contrasting note, the net profit increased by 46 percent from Rs. 76 lakhs to Rs. 1.11 crores during the same period.<\/p><div class=\"trade-content_5\" id=\"trade-2513849070\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Coming onto the important financial ratios, the return on equity increased from 0.53 percent in FY 21-22 to 8.78 percent in FY22-23, and the return on capital employed improved from 3.82 percent to 11.41 percent during the same time horizon.<\/p><p>According to the latest shareholding pattern, Promoters have a 41.01 percent stake in the company, the Public has a 55.49 percent holding and the remaining 3.5 percent shares are with DIIs.<\/p><p>Headquartered in Kannur, The Western India Plywood Ltd was incorporated in the year 1945 operating in the building material sector. The Company products include Hardboards, Plywood, Soft boards, Furniture, Compreg boards, Pre Finished Boards, and Others. &nbsp;<\/p><p><strong>Written By Vaibhav Patil<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2300088331\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The plywood manufacturing company hits a 5 percent upper circuit after posting strong Q2 FY24 results. Since January, the stock has delivered more than 60 percent returns to its stakeholders. With a market capitalization of Rs. 129 crores, the shares of The Western Indian Plywood Ltd opened Monday\u2019s trading session flat at Rs. 150. The [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":45293,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-113636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock hits upper circuit after its net profit increases by 152% QoQ in Q2 FY24 \u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The plywood manufacturing company hits a 5 percent upper circuit after posting strong Q2 FY24 results. 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