Penny Stock Under Rs 30 Touches 20% Upper Circuit As Net Profit Soars 2259%

Small cap stock operating in the sugar sector, KCP Sugar & Industries Corporation on July 20 hit 20% upper circuit after the company announced robust quarterly results. It declared its total income at Rs 123.23 crore for the quarter ended June 30, 2023 as against Rs 52.78 crore declared during the period ended March 31, 2023.

KCP Sugar Q1 Results: KCP Sugar announced the net profit of Rs 30.67 crore for the quarter ended June 30, 2023 as compared to a net loss of Rs 8.46 crore for the quarter ended March 31, 2023.

When it comes to year-on-year comparison, KCP Sugar declared the total income at Rs 123.23 crore for the period ended June 30, 2023 as against Rs 75,69 crore announced in June 30, 2022.

It declared its net profit at Rs 30.67 crore for the quarter ended June 30, 2023 as against the net loss of Rs 1.42 crore for the corresponding quarter of last year, showing a jump of 2259.86.

KCP Sugar Stock Performance & Return: Last trading price of KCP Sugar share is Rs 28.54 per share with intraday fall of 0.87%. Its 52-week high price is Rs 34.20 per share and 52-week low price is Rs 20.55 per share, respectively. It has a market capitalisation of Rs 323.60 crore. In last 1-week, KCP Sugar offered 16% return, rallied 14% in last 2-weeks, declined 12% YTD, gave return of 20% in last 1-year, and 79% return in last 3-years. In last 5-years, KCP Sugar soared 41%.

Disclaimer: The stock 20% hit upper circuit on July 20. Greynium Information Technologies and the Author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.