Standard Capital Announces Q3 Results, PAT Zooms Over 1,200%; Check Details

Standard Capital announces Q3FY24, the net sales increased by 94.4 per cent to Rs 5.78 crore, operating profit increased by 243.7 per cent and net profit increased by 647.8 per cent to Rs 3.32 crore in Q3FY24 compared to Q3FY23 while the net sales increased by 272.2 per cent to Rs 16.70 crore and net profit increased by 1,203 per cent to Rs 8.20 crore in 9MFY24 compared to 9MFY23.

In its half-yearly results (H1FY24), the net sales surged 426 per cent to Rs 10.92 crore and net profit leapt 2,560 per cent to Rs 4.90 crore, year-over-year. The impressive trend extended to FY23, where net sales jumped 2,093 per cent to Rs 8.05 crore and net profit galloped 2,584 per cent to Rs 2.23 crore, compared to FY22.

The shares of Standard Capital Markets gained 2.26 per cent to Rs 2.71 per share from its previous closing of Rs 2.65 with an intraday high of Rs 2.75 and an intraday low of Rs 2.58. The stock's 52-week high is Rs 3.32 per share and its 52-week low is Rs 0.84 per share.

The stock gave multibagger returns of 195 per cent in just 1 year, 2,650 per cent in 2 years and a whopping 5,000 per cent in 3 years.

The firm has notified exchanges that the establishment of a wholly-owned subsidiary company has been approved by its board of directors. In order to conduct merchant banking operations, the subsidiary has been established. Its duties include managing, registering, and issuing shares, stocks, debentures, bonds, units, participation certificates, deposit certificates, notes, bills, warrants, commercial bills, bills of exchange, promissory notes, commercial paper, and any other instrument revealed by the company in an exchange filing.

Standard Capital Markets, established in 1987, is a non-deposit, non-systemically important NBFC licensed by the Reserve Bank of India. It is classified as an NBFC-Investment and Credit Company (NBFC-ICC) and has a market capitalization of Rs 398 crore.