Q2 results 2024: Penny stock Narmada Agrobase jumps 5% despite volatile stock market : Hits upper circuit
- Stock Market Today: Penny stock Narmada Agrobase Ltd share price rises 5% on Thursday during intraday trades post Q2 results despite volatile stock market. the stock also hit upper price band
Stock Market Today: Penny stock Narmada Agrobase Ltd share price rises 5% on Thursday during intraday trades post Q2 results despite volatile stock market. The Narmada Agrobase share price also hit upper circuit
The Narmada Agrobase share price opened at ₹15.92 on Thursday on the BSE, 4.5% higher than the previous close of ₹15.23 . The Narmada Agrobase share price thereafter gained further to hit intraday highs of ₹15.99, marking gains of 5% . The upper price band for Narmada Agrobase share price also stood at ₹15.99 and the stock hit upper circuit. The Narmada Agrobase share price closed at ₹15.97 on Thursday only marginally lower than intraday high.
Narmada Agrobase share price while had touched 52 week high or 1 year high of ₹26.28 on 02 February '2024, the stock price has corrected with volatility in the market. However is well above the 52 week low of ₹13.72 seen by the Narmada Agrobase share price in November last year.
Narmada Agrobase is one of the leading cattle feed manufacturer, and announced a significant increase in its Net profit for Q2 FY25. The company achieved a remarkable growth in net profit of 660.10% compared to the same period last year.
Net profit increased to ₹129.4 Crore, marking an exceptional growth of 660.10% compared to ₹ 0.170 crore in same period last year.
Narmada Agrobase Earnings before interest tax depreciation and amortisation grew by 340.85% to reach ₹2.07 crore. The company attributed the strong performance across business segments to the overall growth.
Neeraj Agrawal, Chairman & Managing Director, commented that "the outstanding quarter reflects our strategic investments in growth and our ability to execute in a rapidly changing market environment. As we move forward, we remain focused on delivering sustainable growth, enhancing shareholder value, and capitalizing on new opportunities that align with our long-term vision"
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