Cable stock surged over 4% following the announcement of a remarkable 162% year-over-year increase in revenue.
Cable stock: The shares of this microcap stock, Ultracab (India) Ltd, which specializes in manufacturing and exporting electrical cables, experienced a significant 4.5 percent increase on Tuesday following the announcement of its Q3 results. The company reported an impressive 162.2 percent year-on-year rise in revenue from operations.
In Tuesday’s trading session, Ultracab (India) Ltd, with a market capitalization of Rs 193.36 crore, saw its stock price rise by 4.5 percent, reaching a high of Rs 15.39 per share compared to the previous closing price of Rs 14.73 per share. The stock later settled at Rs 14.90, representing a 1.15 percent increase from the previous closing price.
The surge in Ultracab (India) Ltd’s stock price can be attributed to the positive Q3FY24-25 results the company announced. Revenue from operations grew by an impressive 162.2 percent year on year, reaching Rs 67.4 crore in Q3FY25, a 3 percent increase from Rs 65.4 crore in Q2FY25.
Additionally, the company’s net profit saw a significant increase of 64 percent, rising from Rs 1.6 crore to Rs 2.7 crore in Q3FY25. On a quarter-on-quarter basis, the net profit increased by 8 percent from Rs 2.5 crores.
Furthermore, Ultracab (India) Ltd’s earnings per share (EPS) showed a substantial increase of 64.7 percent, rising from Rs 0.17 to Rs 0.28.
Ultracab India Ltd. is a prominent manufacturer and exporter of electric wires and cables, with a strong presence in the market for over 22 years. The company initially focused on producing PVC wires and cables and has since expanded into global markets.
All activities, from raw material sourcing to the final product, are managed in-house by the company.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.