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Business News/ Markets / Stock Markets/  Q4 results 2024 effect: Penny stock East West Holdings jumps 10% despite stock market crash
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Q4 results 2024 effect: Penny stock East West Holdings jumps 10% despite stock market crash

Q4 results 2024 effect: Penny stock today opened upside and touched intraday high of ₹6.44 apiece

Q4 results 2024: In FY24, the net profit stood at ₹5.67 crore, a substantial increase from ₹1.50 crore in the previous financial year.Premium
Q4 results 2024: In FY24, the net profit stood at 5.67 crore, a substantial increase from 1.50 crore in the previous financial year.

Stock market today: Amidst the recent stock market crash, which was triggered by rising US treasury yield and soaring crude oil prices on rising tension in the Middle East, a few stocks are defying the trend and attracting strong bulls' interest. Notably, East West Holdings shares are among them. This penny stock opened with an upside gap and reached an intraday high of 6.44 apiece on BSE, marking a significant 10 percent increase from yesterday's close of 5.86 per share. The microcap company, with a market cap of 76 crore, announced its Q4 results 2024 on Wednesday. Despite the challenging market conditions, the company's total Q4 audited revenue surged from 51.45 crore to 73.54 crore YoY, reflecting an impressive 43 percent rise on a yearly basis.

East West Holdings Q4 results 2024

In Q4FY24, the company's total audited revenue increased by 43 percent YoY to 73.54 crore. However, the real star of the show was the company's net profit. In FY24, the net profit stood at 5.67 crore, a substantial increase from 1.50 crore in the previous financial year. This translates to a remarkable 280 percent rise in net profit in the recently ended FY24. In Q4FY24, the company's audited net profit was 6.15 crore, a staggering increase from 1.65 lakh in Q4FY23. This represents a YoY rise in net profit of over 37,000 percent, underscoring the company's financial strength and potential.

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This penny stock, East West Holdings, is available for trade on BSE only. Its market cap is around 76 crore, and its trade volume is 6.13 lakh. This means that [specific number of shares] of the company's stock were traded in the last trading session. Its 52-week high is 11.47 apiece whereas its 52-week low is 3.96 per share.

Stock market today

Following weakness in the global market sentiments, the Indian stock market continues to trade weak for the fifth straight session during Thursday deals. Among frontline indices, the Nifty 50 index is down by nearly 160 points, whereas the BSE Sensex is down by around 350 points. However, the Bank Nifty index is up by around 300 points. The small-cap index is down by around 0.80 percent in the broad market, whereas the mid-cap index corrected around 0.65 percent.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
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Published: 30 May 2024, 01:42 PM IST
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