RPSG Ventures shares reached a high of 20% during the early trading session on Friday, as the firm returned to profitability in the quarter ending June 2023 on a sequential (QoQ) basis, despite a strong performance in the quarter. RPSG Ventures reported a net profit of Rs 362.40 crore in the June 2023 quarter, up 412 percent year on year (YoY) from a net profit of Rs 70.66 crore in the June 2022 quarter. In the March 2023 quarter, the company recorded a net loss of Rs 132.15.
In the March 2023 quarter, the company recorded a net loss of Rs 132.15. The company’s revenue from operations increased by almost 18% to Rs 2,296.06 crore for the April-June 2023 period, up from Rs 1,952.78 crore the previous year. In the prior March 2023 quarter, its operating revenue was Rs 1,791.85 crore.
RPSG Ventures’ shares surged 20% to Rs 669.15, setting fresh 52-week highs. However, it gave up part of its gains and was trading at Rs 639 at 10.30 a.m. The company has a total market capitalization of more than Rs 1,885 crore. On Thursday, the shares closed at Rs 557.65. RPSG Ventures’ operating profit was Rs 616 crore, with operating profit margins of 27%. The company’s earnings per share (EPS) were Rs 51.84. Sanjiv Goenka is the founder of RPSG Ventures, a subsidiary of the RPSG Group.
In 2018, the firm was separated from CESC, and each CESC shareholder received one share of RPSG Ventures for every five shares held in CESC. CESC’s IT service operations were transferred to the firm as part of the demerger.