100% Gain In 1 Month: Apollo Micro Systems (AMS) Hits 10% Upper Circuit, Here’s Why

Apollo Micro Systems (AMS) is a small cap company in the defense sector. The stock opened on Wednesday at Rs 124 apiece and later locked in 10% upper circuit at Rs 133.40 level. After giving a multibagger return of more than 100% in just 30 days, last week, Apollo Micro Systems Limited declared its earnings for the quarter that ended on September 30, 2023 which has fueled the stock to trade higher since the last 5 sessions growing by 12.86% in that period.

Apollo Micro Systems Ltd (AMSL) said on Friday that stronger income contributed to its standalone net profit for the September quarter more than doubling to Rs 7 crore. The company stated in a regulatory filing on Friday that it made a net profit of Rs 3.28 crore at the same time last year. The total income of the firm climbed 67% YoY to Rs 87.57 crore from Rs 52.39 crore in the same quarter last year. AMSL's expenses jumped to Rs 78.68 crore in Q2FY24 from Rs 47.47 crore in Q2FY23.

Apollo Micro Systems reported a 300 per cent year-on-year (YoY) rise in consolidated net profit to Rs 6.56 crore in the September 2023 quarter. The company reported a net profit of Rs 1.64 crore in the year-ago quarter. It made Rs 1.63 crore in net profit in the first quarter of the current fiscal year or Q1FY24. At Rs 87.16 crore, its consolidated revenue from operations for the second quarter of the current fiscal year jumped by more than 55% YoY. Apollo Micro's net profit climbed 67% year on year in the first half of the current financial year or H1FY24 from Rs 4.92 crore in H1FY23 to Rs 8.21 crore.

The shares of Apollo Micro Systems reached a 52-week-high of Rs 133.39 on (15/11/2023) and a 52-week-low of Rs 22.24 on (18/11/2022). In the last 1 year the stock has generated a multibagger return of 446.90% and on a YTD basis it has gained 336.20% so far in 2023.