Q4 results 2024 effect: Penny stock East West Holdings jumps 10% despite stock market crash
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.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.Also Read: Awfis Space Solutions share price lists below market expectations. Buy or sell?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.
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