Vertoz Advertising shares: Multibagger stock hits fresh 52-week high after strong Q4 numbers

Shares of Vertoz Advertising hit a new 52-week high on Friday as the company continued to extend its gains after announcing a strong performance in the period that ended on March 31, 2023. The multibagger stock rose another 8 per cent to new hit 52-week highs.

Vertoz Advertising reported a 140 per cent rise on a year-on-year (YoY) basis in the net profit at Rs 3.10 crore for the quarter ended in March 2023, which was Rs 1.83 crore in the year-ago period. On a sequential basis (QoQ), net profit rose about 28 per cent from Rs 3.2 crore in the December 2022 quarter.

Vertoz Advertising's revenue from operations surged more than 243 per cent on YoY basis to Rs 34.32 crore in Q4FY23 from Rs 10 crore in the same quarter previous fiscal. The company reported a 60 per cent jump in revenue on a sequential basis from Rs 21.58 crore in the preceding quarter. Its operating profit rose 85 per cent to Rs 9.63 crore on a YoY comparison.

Shares of Vertoz Advertising jumped about 8 per cent to Rs 279.50 on Friday, its new 52-week high, before giving up some gains to trade at Rs 270.15 levels at 10.30 am. The scrip had settled at Rs 260 mark on Thursday.

Shares of Vertoz Advertising have rallied more than 45 per cent in the last one month, while the stock has surged about 170 per cent in the last six months, while it is up 185 per cent in the last one year. The stock has gained about 315 per cent from its 52-week low at Rs 67.35 hit on June 22, 2022.

For the year ended on March 31, 2023, the company reported an 81 per cent jump in the net profit at Rs 11.04 crore from Rs 6.1 crore in the year-ago period. Its revenue from operations almost doubled to Rs 82.81 crore during the period under review.

Incorporated in 2012, Vertoz is an ad-tech company eager to help businesses emerge swiftly and smartly in their digital expedition. It is a programmatic advertising company that offers engaging and innovative advertising and monetization solutions that replaces the traditional methods of media buying and selling of advertisement.

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