D-Link zooms today by 7% after reporting 29% rise in Q1 consolidated net profit

 D-Link (India) today closed at Rs 320.75, up by 7.13%. On July 29, 2023 the company declared its results. Talking about results for the first quarter ended June 30, 2023 or Q1FY24, the company’s net profit increased by 32.74% to Rs 20.72 crore from Rs 15.61 crore in the corresponding quarter last year. In Q1FY24, the company’s total revenue climbed by 2.08% to Rs 300.38 crore from Rs 294.26 crore in the same quarter the previous year. 

On a consolidated basis, the company recorded a 29.46% increase in net profit for the first quarter ended June 30, 2023, from Rs 16.19 crore for the same quarter the year before, to Rs 20.96 crore. When compared to the same quarter last year, the company’s total revenue climbed by 1.89% to Rs 302.62 crore during Q1FY24. 

Today the scrip was opened at Rs 299.40 and has touched a high and low of Rs 325.90 and Rs 299.40 respectively.  The BSE group ‘B’ stock of face value Rs 2 has touched a 52 week high of Rs 329.70 on July 24,2023 and a 52 week low of Rs 158.80 on August 23, 2022. Over the past one year shares of company has given unbelievable return of 91.29%.   

D-Link (India) was incorporated in the year 1986. It is a global leader in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions. D-Link India deals with a complete range of co-branded products from Foundry Networks Inc of US in India. It offers its products through distributors, dealers and resellers in India and internationally. It is working on emerging technologies such as embedded systems, protocol programming, digital signal processing based systems, etc. 

The promoters holding in the company stood at 51.02%, while Institutions and Non-Institutions held 0.17% and 48.80% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.