Genus Power Share Price Soars, Investors Rejoice! 🚀
Genus Power, a multi-bagger returning stock, has been creating new records in the share market lately, leaving investors thrilled. On Friday, the share price surged by 5% and reached Rs. 234.50, thanks to a letter of award worth Rs. 1,026.31 crore received by the company’s fully-owned subsidiary.
The market capitalization of Genus Power stood at Rs. 6,041.61 crore, and the stock has given a whopping multi-bagger return of 575% in the past three years. Notably, it has also delivered a return of 157% in just one year. Since January, the share has witnessed an impressive surge of 177%.
On December 26, 2022, the Genus Power share hit a low of Rs. 78.10, but this year, it reached a record high of Rs. 290 on September 5. The stock is currently trading over 200% above its 52-week low.
Strong Financial Performance in Q2 FY23 💰
During the September quarter, Genus Power Infrastructure reported robust profits. In the second quarter of the current fiscal year, the company’s profit surged to Rs. 49.2 crore, compared to Rs. 6.5 crore in the same period last year. The revenue for Q2 FY23 stood at Rs. 308 crore, significantly higher than the Rs. 223 crore reported in the corresponding quarter of the previous year.
Furthermore, the operating profit for the second quarter reached Rs. 263 crore, a substantial increase from Rs. 16.8 crore in the same period last fiscal year.
Impressive Financial Year 2023 Outlook 💼
Genus Power’s performance in the current fiscal year has been remarkable, with profits increasing to Rs. 35 crore from Rs. 21.8 crore in the previous financial year. Additionally, the company’s revenue from operations rose to Rs. 826.8 crore, compared to Rs. 711.9 crore in the fiscal year ending in March 2022.
Genus Power primarily focuses on metering and metering solutions, engineering, manufacturing, and turnkey projects. With its strong financial performance and consistently rising share price, the future looks bright for this power infrastructure company.
Investors are eagerly watching Genus Power as it continues to shine in the stock market. Stay tuned for more updates on this exciting growth story! ✨
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