A penny stock from the textile sector has once again come into investors' focus. The stock is Nandan Denim Limited. On Friday, the stock's price rose from ₹3.22 to ₹3.30. This stock came into focus after the financial report for the second quarter of the current financial year was released.
Nandan Denim's business declined between July and September this year. During this period, the company's revenue decreased by 7.7 % compared to the previous year to ₹784.69 crore. In the second quarter of the previous year, this figure was ₹850.25 crore. Additionally, the company's EBITDA decreased by approximately 26.7 %.
It came down from ₹31.47 crore to ₹7.25 crore. However, despite other parameters being down, Nandan Denim's net profit increased by 7.6 % compared to the second quarter of the previous financial year to ₹9.44 crore. A year ago, this figure was ₹8.77 crore.
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Although the financial report for the second quarter was somewhat down, the company's revenue and net profit increased in the first half of the current financial year. During this period, revenue increased by 16.5 % and net profit increased by 20.64 %
The share performance of this stock has not been noteworthy in the past few months. The stock's price has fallen by 0.31% in the last five trading sessions. It has declined by more than 18 % in the past four months. Even over the past year, this stock is down by 41 %. However, over the past five years, investors have received a return of 1,311 % from this stock.
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