Penny Stock Sindhu Trade Links Clocks Manifold Jump of 600% In PAT In Q1

Sindhu Trade Links has announced the Q1 result of the financial year 2023-24. According to a regulatory filing by the company, its net profit jumped up to 600 per cent to Rs 29.33 crore in the June 2023 quarter as compared to Rs 5.45 crore in the June 2022 quarter.

For the entire financial year 2022-23, the company's net profit stood at Rs 16.6 crore.

The total income of the company in the first quarter was reported at Rs 444 crore, showing an increase of 70 per cent on a YoY basis. Sindhu Trade Links' total income in the April-June quarter of the fiscal was Rs 2,614 crore.

Sindhu Trade Links in a statement said that it will be undertaking the development of a mixed-use township in Chhattisgarh's Bilaspur. Notably, Bilaspur town is among the list of 100 Smart cities under the 'Smart Cities Mission.'

The work on the project will commence in the current financial year, it said in the filing. The proposed township is spread over 63 acres. It will consist of residential plotted development, residential group housing, a retail shopping mall and more.

The company will invest Rs 200 crore for the development of a mixed-use township. The total revenue potential of this development is approximately Rs 550 crore, the statement added.

Sindhu Trade Links is primarily engaged in the activities of transportation, loading and mining services and trading of spares, fuel, and high-speed diesel.