Small-cap stock below ₹50 jumps 10% after stellar Q3 results

Small-cap stock below ₹50: Shares of Hardwyn India Ltd are one of those small-cap stocks of the Indian stock market that are priced below ₹50. The small-cap stock has been witnessing strong buying interest since early morning deals. Hardwyn share price today opened upside and went on to touch an intraday high of ₹46.50 apiece on NSE, logging over a 10 percent rise against its Thursday close of 42.20 apiece.

Hardwyn India Q3 results 2024

Hardwyn India Ltd declared its third quarter results for the financial year 2023-24 on Thursday. In the October to December 2023 quarter, the small-cap stock reported a big upside in net profit (both sequentially and yearly). 

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The small-cap company reported a net profit of ₹41 crore, logging a 25 percent YoY rise against the net profit of ₹32.66 crore in the corresponding period of the previous financial year. The small-cap company recorded an over 200 percent rise in net profit YoY against its Q2FY24 net profit of ₹13.45 crore.

This could become possible because the company was able to contain its expenses both sequentially and yearly. The company reported total expenses in the third quarter of the current fiscal at ₹293.4 crore, which stood at ₹345.26 crore in the previous quarter and at ₹302 crore in the corresponding period of the previous financial year.

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On a year-on-year (YoY) basis, the small-cap company's total revenue grew from ₹347.3 crore in Q3FY23 to ₹351.35 crore in Q3FY24. In the first nine months of the current financial, the company's unaudited total revenue has been reported at ₹989.17 crore, which stood at ₹952.15 crore in the April to December 2022 period.

In the first nine months, the small-cap company's unaudited net profit stood at ₹64.57 crore, which is 21.83 percent higher than its net profit of ₹53 crore in the April to December 2022 period.

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