Micro Cap Tata Stock Hits Upper Circuit As Profits Jump 211%

Shares of Artson Engineering jumped up to 2% on Tuesday after the company posted its results for the September quarter.

What Happened: The company on Monday evening reported its revenue from operations at ₹30.11 crore in the September quarter an 11% slump from the ₹34.06 revenue it booked in the same quarter last year. Profits, on the other hand, saw a jump going up to ₹3.2 crore, around a 211% increase from the ₹1.03 crore booked in the June quarter of 2023. The company had reported a loss of ₹6.66 crore in the September quarter of 2022.

See Also: Micro Cap Stock Jumps 5% After Winning ₹5.6-Cr Orders From Railways

The company had a deferred tax/ tax credit of ₹2.32 crore for this quarter. EBITDA for the July-September period stood at ₹3.6 crore with an EBITDA margin of 12.11%. Earnings per share for the quarter stood at ₹0.87.

The micro-cap stock last month had announced securing a new order from Tata Projects. This order, valued at ₹25.19 crore, is for the fabrication of structures required for the AMNS Project. The company is a subsidiary of Tata Projects, which holds a 75% stake.

Price Action: Artson Engineering’s share price was locked in 2% upper circuit in early trade on Tuesday.

Read Next: Why This Mukul Agrawal-Backed Small Cap Stock Is Skyrocketing Over 7.2% Today

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasArtson EngineeringTata GroupTata Projects