Shares of Tanla Platforms Ltd. hit a 52-week high on Friday after its profit jumped in the first quarter.
The company's net profit rose 35% year-on-year to Rs 135.4 crore in the quarter ended June, according to an exchange filing
Tanla Platforms Q1 FY23 (Consolidated, YoY)
Revenue up 14% to Rs 911 crore.
Ebitda up 39% to Rs 182.22 crore.
Ebitda margin 20% Vs 16.3%
Net profit rose 35% to Rs 135.4 crore.
Shares of Tanla Platforms traded 3.6% higher at Rs 1,159 apiece, compared to a 0.87% fall in the NSE Nifty 50 as of 10:54 a.m. The stock surged 7.29% to Rs 1,198.7, the most since June 15, 2022.
The average traded volume so far in the day stood at 3.8 times its monthly average, while the relative strength index was at 78, indicating the stock may be overbought.
Of the three analysts tracking the company, all three maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a potential downside of 3.9%.
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