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Last Updated : Oct 16, 2020 11:00 AM IST | Source: Moneycontrol.com

Vimta Labs shares hit upper circuit after Q2 net profit zooms 720%

Net profit of the company zoomed 720 percent to Rs 7.38 crore in the quarter ended September 2020 as against Rs 0.90 crore during the previous quarter ended September 2019.

 
 
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Vimta Labs share price gained 5 percent intraday on October 16 after the company reported a whopping 720 percent jump in standalone net profit in the September quarter.

Net profit of the company zoomed 720 percent to Rs 7.38 crore in the quarter ended September 2020 as against Rs 0.90 crore during the previous quarter ended September 2019.

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Sales of the company rose 38.52 percent to Rs 58.80 crore in the quarter ended September 2020 as against Rs 42.45 crore during the previous quarter ended September 2019.

The stock was trading at Rs 139.45, up Rs 6.60, or 4.97 percent. It has touched an intraday high of Rs 139.45 and an intraday low of Rs 139.45.

The scrip touched upper circuit of Rs 139.45. There were pending buy orders of 9,748 shares, with no sellers available.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has low debt with zero promoter pledge.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
First Published on Oct 16, 2020 11:00 am
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