Rekha Jhunjhunwala-Backed Small Cap Stock Surges 13% After 58% Jump In Profits

Shares of Geojit Financial Services surged up over 13% on Wednesday to hit a new 52-week high of ₹68.35.

What Happened: The company posted its earnings for the September quarter on Tuesday evening. The company’s consolidated profits after tax surged 58% from ₹24 crore in the September quarter of the previous year to ₹38 crore. On a sequential basis, the jump was even more prominent, going up over 73% from ₹22 crore booked in the June quarter earlier this year.

See Also: This Small Cap Stock Has Surged 80% In 6 Months, Analysts See Another 44% Rally

Consolidated total revenue saw a growth of 29% year-over-year, increasing from ₹112 crore to ₹145 crore. EBITDA for the quarter was at ₹59 crore with an EBITDA margin of 40%. Earnings per share for the quarter was at ₹1.52.

The robust results helped the Rekha Jhunjhunwala-backed stock continue making gains for the sixth straight session. Jhunjhunwala owns a massive 8.21% stake in the company that is worth around ₹132 crore.

Price Action: Geojit’s share price was up 12.93% to trade at ₹67.70 on Wednesday afternoon.

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Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasGeojit Financial ServicesRekha Jhunjhunwala