From stellar listing to stellar quarterly results; VPRPL announces its June quarter results

Vishnu Prakash R Punglia Limited, one of India’s fastest-growing infrastructure development companies, announced its June quarterly results yesterday. The stock made its debut this month with a stellar listing, providing impressive returns to its subscribers on the listing day itself.

Let’s quickly observe the results announced by the company and compare the current quarter’s results with the corresponding quarter’s financials from last year.

• The company experienced a significant 49.44% rise in its revenue in Q1 FY24, reaching Rs 278 crore, compared to Rs 186 crore in the same period of the previous year.
• During the quarter, the company’s operating profit experienced a remarkable 57% growth, amounting to Rs 33 crore, compared to Rs 21 crore in the previous year. Moreover, the operating profit margin also improved from 11% to 12%.
• The company witnessed a 45% increase in its net profit for the quarter ended June 2023, reaching Rs 16 crore, compared to Rs 11 crore recorded in the corresponding period of the previous year. The net profit margin stood at 6% during the same period.

The shares of VPRPL began the day at Rs 177.49 each on the BSE, which is 0.60% up from the previous day’s closing price of Rs 176.44. As of writing the article, the stock is trading at Rs 172.85 per share on the BSE. 

The current market capitalisation of the company is Rs 2,154 crore, and its 52-week high price and low price are Rs 187.50 and Rs 144, respectively.

Furthermore, the stock got listed on the stock market this month on September 05 at Rs 163.30 on the BSE with a remarkable listing premium of 65%. The final issue price of the stock was fixed at Rs 99 per share. If we calculate the return from its issue price, it has generated an impressive return of 75% since its listing.

In conclusion, there is no doubt that the quarterly performance showcased by the company is remarkable. Furthermore, they have demonstrated their strength by listing at an impressive premium, indicating strong interest from investors during the IPO.

However, the company reported its June quarter results quite late, and this is the first-ever earnings report released after its listing on the Indian stock market. Despite the timing, the company’s performance is undeniably remarkable, with double-digit growth in both its top line and bottom line.

Investors should keep this stock on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.