Lotus Chocolate Share Price Surges, Hits Upper Circuit
Lotus Chocolate Company’s shares have been on a bullish trend, with the stock hitting the upper circuit on Friday. The company’s shares have been consistently hitting the upper circuit for the past 12 days. In the June 2024 quarter, the company recorded a staggering 4,700% increase in net profit.
On Thursday, the company’s share closed at Rs 1,198.15. The share has doubled in value for investors in the past month, rising by 118%. Lotus Chocolate stock closed at Rs 1,258.05, up by 5.00% on Friday, and further increased to Rs 1,321 on Monday.
Lotus Chocolate shares were trading at Rs 575.70 on July 2, 2024. By August 2, 2024, the stock had reached Rs 1,258.05. In the last five days alone, investors have seen a 21% return on their investment. The stock’s 52-week high was Rs 1,258.05, while the low was Rs 213.
Over the past five years, Lotus Chocolate Company’s stock price has increased by a whopping 8000%. From trading at Rs 15.45 on August 2, 2019, the share is now trading at Rs 1,258.05. In the last three years alone, the company’s shares have seen a growth of 4,200%.
Impressive Financial Performance
In the June 2024 quarter, Lotus Chocolate Company reported a remarkable 4700.87% increase in net profit. In the same quarter of the previous financial year, the company had earned a net profit of only Rs 9.41 crore. The company posted a net profit of Rs 1.18 crore in the March 2024 quarter.
The company’s revenue in the June quarter surged fourfold to Rs 141.3 crore, compared to Rs 32.3 crore in the same quarter last year. The significant increase in revenue and profit highlights the strong growth trajectory of Lotus Chocolate Company.
On May 24, 2023, Reliance Consumer Products Limited acquired a controlling stake in Lotus Chocolate Company. Reliance Retail Ventures Limited, a subsidiary of Mukesh Ambani’s Reliance Industries Limited, is assisting in the business operations of Lotus Chocolate.
Lotus Chocolate primarily operates in the chocolate and cocoa products manufacturing business, and its impressive financial performance and soaring stock prices indicate a bright future for the company.
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