Shares of Cellecor Gadgets Ltd surged about 8 per cent during the trading session on Thursday to hit new highs after the company announced its earnings for the period ended on September 30, 2023. The company declared its results through an exchange filing on Wednesday.

Cellecor Gadgets reported a more than 108 per cent rise in the net profit on a year-on-year (YoY) basis to Rs 7.02 crore in the first half ended September 2023. The company’s net profit came in at Rs 3.37 crore in the same period previous financial year. The company’s net profit stood at Rs 4.70 crore in the second half of the previous fiscal.

Its revenue from operations jumped 85 per cent on YoY comparison to Rs 209.65 crore in the first half of the ongoing financial year. Its operational income stood at Rs 113.53 in the same period a year ago. Its revenue from operations came in at Rs 150.82 crore for the six months ended March 31, 2023.

Following the announcement of results, shares of Cellecor Gadgets surged about 8 per cent to Rs 201.95, hitting its new highs, on Thursday, commanding a total market capitalization close to Rs 410 crore. The scrip had settled at Rs 187.15 in the previous trading session on Wednesday.

Shares of Cellecor Gadgets were listed at the SME platform of NSE in September 2023 as the SME player raised Rs 50.77 crore via IPO route by selling its shares for Rs 92 apiece. The stock has surged about 120 per cent from its issue price so far.

Cellucor Gadgets, Incorporated in 2020, is engaged in the procurement, branding, and distribution of televisions, mobile phones, Smart Wearables, mobile accessories, smart watches, and neckbands. It has three business verticals- entertainment and communication, peripherals and modern accessories.

Cellucor Gadgets has more than 1200 service centers, and more than 800 distributors associated with it. Its products are also present at over 24,000 retail stores with more than 300 ranges of products and 100 million users across the country through offline and online channels.

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