Amidst a recent stock market crash caused by factors like rising US treasury yield and escalating crude oil prices due to tensions in the Middle East, some stocks are bucking the trend and gaining significant attention from investors. Notably, East West Holdings is one of them. This penny stock opened higher and soared by 10% to ₹6.44 per share on the BSE, compared to yesterday’s close of ₹5.86.
East West Holdings Q4 results 2024
East West Holdings recently released its Q4 results for 2024. Despite the challenging market conditions, the company reported impressive figures. Its audited revenue for Q4FY24 surged by 43% year-on-year to ₹73.54 crore. The real standout was the company’s net profit, which increased substantially from ₹1.50 crore in the previous financial year to ₹5.67 crore in FY24, marking a remarkable 280% rise. In Q4FY24 alone, the audited net profit was ₹6.15 crore, a staggering increase from ₹1.65 lakh in Q4FY23, representing a year-on-year rise of over 37,000%.
East West Holdings is listed only on the BSE with a market cap of approximately ₹76 crore. Its trade volume stands at 6.13 lakh shares. The stock’s 52-week high is ₹11.47 per share, while its 52-week low is ₹3.96 per share.
Despite the overall weakness in the global and Indian stock markets, with the Nifty 50 and BSE Sensex down by nearly 160 and 350 points respectively, the Bank Nifty index has shown some resilience, up by around 300 points. In the broader market, the small-cap index is down by approximately 0.80%, and the mid-cap index corrected around 0.65%.
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