Investing.com — Shares of Gothi Plascon India Ltd (BO:GOTH) surged 4.9% and hit an intraday high of Rs 34.1 apiece on the Bombay Stock Exchange (BSE) on Wednesday, and snapped a five-day losing run in the ongoing session.
The micro-cap company conducted a meeting of its Board of Directors on July 26, 2023, and released its financial results for the quarter ended June 30, 2023, along with approving other important proposals today.
The Rs 34 crore market capitalization company’s Board of Directors approved the re-appointment of Sanjay Gothi as Managing Director of Gothi Plascon, subject to the approval of shareholders.
Gothi Plascon reported a net profit of Rs 68.39 lakh for the first quarter of the financial year 2023-24 compared to a net loss of Rs 20 lakh in the March quarter, however, slipping from Rs 63.9 lakh witnessed in the same period last year.
Its revenue from operations grew slightly to Rs 105.8 lakh in the June quarter from Rs 105.59 lakh in the year-ago period, while advancing 1.2% on a sequential basis.
Also Read- Stocks to Watch: Axis Bank, Tata Motors, SpiceJet, HCLTech, Jubilant Food, and Others
Further, the company’s Board has also approved convening its 28th Annual General Meeting (AGM) on Saturday, September 30, 2023, through Video Conferencing.
The micro-cap stock has jumped 62% so far in the calendar year 2023, that is on a year-to-date (YTD) basis.
