Innova Captab Shares Hit Highest Since Listing After Q2 Profit Jumps
The company's consolidated net profit rose 22.5% to Rs 22.9 crore in the quarter ended September 2023, according to an exchange filing.
Shares of Innova Captab Ltd. jumped to record high since listing on Dec. 29 after its profit jumped in the second quarter.
The company's consolidated net profit rose 22.5% to Rs 22.9 crore in the quarter ended September 2023, according to an exchange filing.
Innova Captab Q2 Results Highlights (Consolidated, YoY)
Revenue up 16.8% at Rs 282.9 crore.
Ebitda up 29.5% at Rs 40.4 crore.
Margin at 14.28% vs 12.88%.
Net profit up 22.5% at Rs 22.9 crore.
Shares of the company rose 13.64% to Rs 590 apiece, the highest level since listing. It pared gains to trade 5.37% higher at Rs 545 apiece as of 10:33 a.m. This compares to a 0.94% advance in the NSE Nifty 50 Index.
The stock has risen 22.10% from listing date. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 70.54, indicating that the stock may be overbought.
