Penny Stocks: Adroit Infotech Limited’s stock skyrockets from Rs 8 to Rs 30 in just one and a half years
Adroit Infotech Ltd, a midcap IT company, has experienced a remarkable surge in its stock price, soaring from Rs 8 to Rs 30 in just one and a half years. With a market cap of Rs.61 Crore, the company’s shares reached a 52-week high of Rs.32.15 and a 52-week low of Rs.14.25. This exponential growth in stock price has caught the attention of investors.
Intraday Return and Recent Performance
On Friday, shares of Adroit Infotech Ltd witnessed a 13% rise, providing investors with an intraday return of Rs 3.4. Notably, in the past 5 days, the stock has delivered a 14% return, while over the last 1 month and 6 months, it has yielded impressive returns of over 46% and 45% respectively. This consistent growth has made Adroit Infotech Ltd an attractive investment option.
Consistent Growth Over the Past Year
Over the past year, shares of Adroit Infotech Ltd have delivered a massive return of 66%. This upward trajectory continued on Friday, with the stock rising by 13.72%. Investors who have been holding the stock for a longer period have reaped significant profits.
Financial Performance and Outlook
Adroit Infotech Ltd posted sales of Rs 6 crore in the first quarter of the current fiscal year. However, the net profit fell by nearly 80% to just Rs 43 lakh from Rs 2.15 crore. The company’s EBITDA also experienced a decline, falling to Rs 91 lakh in the June quarter, representing a 63% decrease compared to the same quarter last year. Adroit Infotech aims to increase its revenue by 25 to 35% and EBITDA by 25 to 28% in the current financial year.
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