Shares of Orient Technologies Ltd surged by nearly 11% following the announcement of its unaudited financial results for the quarter ending September 30, 2024.
As of 11:12 am, the stock was trading 10.71% higher at ₹431.00 on the NSE, reflecting investor enthusiasm for the company’s impressive quarterly performance.
Key Financial Highlights (YoY Comparison):
- Revenue from Operations: The company reported revenue of ₹223.14 crore, a 49.2% increase from ₹149.40 crore in Q2 FY24.
- Total Income: Total income rose by 48.8% to ₹225.07 crore, compared to ₹151.21 crore in the same quarter last year.
- Profit Before Tax (PBT): PBT reached ₹19.41 crore, up 57.9% from ₹12.29 crore in Q2 FY24.
- Net Profit: Profit for the period increased by 62.6%, standing at ₹15.07 crore, as opposed to ₹9.26 crore in the corresponding quarter of the previous year.
- Earnings Per Share (EPS): Basic EPS improved to ₹4.15, up from ₹2.63 in Q2 FY24, demonstrating robust growth.
Operational Highlights:
The company attributed its growth to higher revenue from operations and effective cost management, resulting in an enhanced profit margin. This strong performance underlines Orient Technologies Ltd’s resilience and strategic positioning in a competitive market.
With consistent growth indicators, Orient Technologies continues to reinforce its business model, drawing positive sentiment from investors.
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