Gujarat Toolroom shares hit 5% lower circuit as Q3 profit sharply declines by 90% YoY
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The shares of penny stock Gujarat Toolroom today slid 5% to hit their lower circuit at Rs 2.34 on the BSE in intraday trade after the company witnessed a sharp decline of 90% year-on-year (YoY) in its net profit for Q3FY25 to Rs 1.43 crore. The same stood at Rs 14.32 crore in the corresponding quarter of the previous financial year. However, the company’s revenue from operations surged to Rs 230.74 crore, up from Rs 131.06 crore reported in the year-ago period, marking an increase of 76% YoY. Additionally, the company’s board of directors also approved the allotment of 116.03 crore shares of Re 1 as fully paid bonus equity shares. The ratio of the bonus share issuance is 5:1. This means the company will award 5 bonus shares to its eligible shareholders for each share they currently hold. “In Continuation to our intimation dated 6 thJanuary, 2025 in respect of approval of the Board of Directors for issue of Bonus Shares, intimation dated 1...