Lotus Chocolate Share Price Soars by 5% to Reach ₹1,035.05
Lotus Chocolate Company’s shares saw an impressive 5% increase on Monday, reaching ₹1,035.05. The company’s shares have been on a steady rise for the past eight days, reaching a 52-week high on Monday. In the June 2024 quarter, the company’s profit surged by 4,700% annually, reaching ₹213.
Investors See Double Returns in Just Five Weeks
Over the past nine trading sessions, Lotus Chocolate Company’s shares have increased by 52%. The shares were trading at ₹681.50 on July 15, 2024, and jumped to ₹1,035.05 on July 29, 2024. In the last five weeks, investors have seen their money double in the company’s shares, with a rapid 120% growth.
Lotus Chocolate Continues to Shine in the Market
On June 24, 2024, Lotus Chocolate shares were trading at ₹470, but have now surged to ₹1,035.05. By Friday, August 2, 2024, the shares had increased by another 5% to trade at ₹1,258. The company’s annual profit has grown by a staggering 4700.87%, showcasing its strong performance.
Impressive Financial Results
In the first quarter of the current financial year, Lotus Chocolate earned a net profit of ₹9.41 crore, compared to ₹0.20 crore in the same period last year. The company posted a net profit of ₹1.18 crore for the March 2024 quarter, with its revenue increasing fourfold to ₹141.3 crore during the quarter.
Lotus Chocolate Company is known for its chocolates, cocoa products, and other similar offerings. It is a subsidiary of Reliance Retail Ventures Limited, which acquired a controlling stake in the company on May 24, 2023. Reliance Retail Ventures Limited is a holding company for all of Mukesh Ambani’s retail businesses.
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