Multibagger Stock: Shares of Brightcom Group have been on an uptrend for the past two sessions despite weakness in secondary markets, following the announcement of first quarter results for the recently ended June 2022 quarter. Extending its post-results rally, Brightcom Group share price hit the upper circuit in this morning’s session. The stock of the digital marketing company has hit the upper circuit for the 5th consecutive session giving almost 21 per cent returns after the announcement of its Q1 results. For readers’ information, the shares of Brightcom Group are one of the multibagger stocks that the Indian stock market has produced in the last one year.
as mentioned above, Brighton Group Share Hitting the upper circuit since 16 August 2022. Hence, after hitting the 5 per cent upper circuit in Monday’s session, it has hit the upper circuit for the 5th day in a row. However, the stock has been going through a sell-off phase for the past few months. It has been the preferred ‘Sell on Rise’ stock of the bears since April 2022. However, over the past few sessions, it has been trying to come out of the consolidation phase. Over the past six months, it has slipped around 82 each level to 46.50 per share mark, a fall of nearly 45 per cent in the stock. In YTD time, this multibagger stock has fallen below from 102.75 46.50 level, a decline of about 55 percent over the period.
However, the stock remains a money-making stock for its shareholders over the long term. This multibagger stock has climbed closely in the last one year from 17.58 46.50 level, registering a growth of about 165 per cent in this period. Over the past 15 months, the stock has gained about . has grown from from 4 46.50 level, climbing over 1,000 percent in this period. Over the past two years, it has grown from multibagger penny stocks. from 3.50 46.50 at each level, recording a return of approximately 1200 per cent to its shareholders.
The current market cap of this multibagger stock is 9,383 crores and its trading volume was around 1.01 crores on Monday at 12:53 pm on NSE, which is less than its average 20 days volume of around 1.5 crores. Its 52 week high on NSE 122.88 per share while its 52-week low 16.71 each level on NSE.
The company had announced its June quarter results on 15 August 2022. In Q1FY23, the digital market company posted 126.38 per cent year-on-year revenue growth, while net profit grew 162.66 per cent year-on-year.
Highlights of Brightcom Group’s Q1FY23 results:
– Brightcom reported a strong quarter with consolidated revenues of 1480.61 crore and PAT 277.24 crore for Q1 FY22-23.
Consolidated revenue grew 126.38 per cent year-on-year and PAT grew 162.66 per cent year-on-year. Notably, EBITDA also grew by 121.90 per cent year-on-year.
The Return on Equity (ROE) of the company has reached around 20 per cent year-on-year.
Brightcom’s ROE is unleveraged as the group has zero debt on a standalone and consolidated basis.
The consolidated tax rate of the company stood at 28.29 per cent across all geographies for the quarter.
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