Apollo Micro Systems’ shares hit their upper circuit on Monday after the company announced its results for the period ended on December 31, 2022. The counter jumped 5 per cent, its circuit limit, on the back of strong quarterly performance in the given period.
Apollo Micro Systems reported a 95 per cent rise in the net profit at Rs 6.60 crore for the December 2022 quarter, which was Rs 3.38 crore in the same quarter a year ago. Its income from operations increased about 28 per cent to Rs 82.35 crore in Q3FY23, compared to Rs 64.59 in Q3FY22.
Apollo Micro Systems’ EBITDA stood at Rs 19.93 crore in December 2022, up 62.03 per cent from Rs. 12.30 crore in December 2021 quarter. It had clocked a net profit of Rs 3.29 crore with revenue from operations at Rs 52.06 crore in the September 2022 quarter.
Apollo Micro Systems’ shares jumped 5 per cent, its buyers’ circuit limit, to Rs 365.65 on Monday after the announcement of results. However, the scrip pared up its entire gains and traded flat by 12.30 pm. The stock had settled at Rs 348.25 on Friday.
Shares of Apollo Micro Systems have jumped more than 185 per cent in the last one year, whereas the stock is up 160 per cent in the last six months. In the year 2022 so far, the stock has gained about 20 per cent.
Incorporated in 1997, Apollo Micro Systems is engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply.
The aerospace and defense company recently bagged defence projects worth Rs 43.98 crore, it informed exchanges in a separate exchange filing.
Also, its board had approved the sub-division or split its equity shares in the ratio of 1:10. It means that each share of the company with a face value of Rs 10 will be divided into 10 equity shares with a face value Re 1 each.
The Hyderabad-based company designs, develops and sells high-performance, mission and time-critical solutions to defense, space and homeland security for the Defence Ministry, government-controlled public sector undertakings and private sectors.
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