Penny stock below ₹5: Vikas Ecotech share price jumps 19% after Q1 results 2024
- Q1 results 2024: Penny stock below ₹5 has reported 550% YoY rise in the net profit to ₹10.07 crore
Stock market today: Vikas Ecotech share price witnessed a substantial upside in early morning deals on Thursday. Penny stock priced below ₹5 today opened with an upside gap at ₹4.26 apiece on NSE and touched an intraday high of ₹4.50 per share within a few minutes of the stock market opening bell. While climbing to this intraday high, the small-cap stock rose over 19 percent against Wednesday's close price of ₹3.77 apiece on the NSE.
While climbing to this intraday high of ₹4.50 apiece, the small-caps tock failed to lock in a 20 percent upper circuit by a whisker. However, the penny stock below ₹5 could not sustain an intraday high and retraced after the profit booking trigger. Currently, Vikas Ecotech share price is quoting around ₹4 apiece.
Vikas Ecotech Q1 results 2024
The small-cap stock was under the radar of Dalal Street enthusiasts as the company declared a positive Q1FY25 number on Wednesday. In the April to June 2024 quarter, the small-cap stock reported a total income of ₹93.64 crore, which is around 60 percent higher than the total income of ₹58.90 crore in the corresponding period in the previous financial year. The company's total revenue grew by 52 per cent against its total income of ₹61.56 crore in Q4FY24. So, the company reported a rise in total income both yearly and sequentially.
Vikas Ecotech Ltd reported a net profit of ₹10.07 crore in the first quarter of the current financial year. The company's net profit has grown by around 400 percent QoQ compared to the net profit of ₹52.06 crore in the previous quarter and by around 550 percent YoY compared to the net profit of ₹1.55 crore in the corresponding period of the previous financial year.
Vikas Ecotech shares are available for trade on the BSE and NSE. The mainboard stock has a market cap of ₹707 crore, and its current trade volume by 2:05 PM is around 4.24 crore. Its 52-week high on the NSE is ₹5.65 apiece, and its 52-week low is ₹2.80 per share.
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