Solar merchandise producer Servotech Power Systems has posted sturdy numbers within the first quarter of monetary yr 2023-24. The clear power options supplier has reported a manifold soar in its consolidated internet revenue within the quarter ended June
Servotech Power is listed on the National Stock Exchange. The revenue after tax (PAT) stood at Rs 4.10 crore within the April-June quarter, boosted by increased revenues, in response to an trade submitting by the corporate. It had posted a internet revenue of Rs 35 lakh within the corresponding interval final yr, the submitting added.
The firm’s whole income greater than doubled to Rs 79.81 crore from Rs 32.06 crore within the year-ago quarter, in response to the submitting.
In an announcement, Servotech Power Systems Ltd mentioned the margins have been supported by sturdy demand for the corporate’s electrical automobile (EV) merchandise. Additionally, demand for its photo voltaic merchandise remained sturdy attributable to its useful design, sturdiness, and user-friendly options, it mentioned.
Servotech operates within the electrical or electronics sector. It is a number one producer of photo voltaic, EV chargers, power-backup and different sensible energy options. The firm can also be concerned in manufacturing electrical automobile chargers. It can also be identified for manufacturing inverters and UPS.
The small cap inventory has delivered a multibagger return of 306 per cent up to now 6 months. In the final one yr, it has rallied greater than 1300 per cent.
Meanwhile, benchmark fairness indices Sensex and Nifty ended decrease on Monday after one-way rally. The 30-share BSE Sensex fell 299.48 factors or 0.45 per cent to settle at 66,384.78. During the day, it touched the intra-day peak of 66,808.56 and hit the bottom degree of 66,808.56.
The NSE Nifty fell by 72.65 factors or 0.37 per cent to finish at 19,672.35. The broader index moved between the vary of 19,782.75 and 19,658.30.
