After falling more than 97 percent, the shares of Kishore Biyani’s Future Group company Future Market Networks are hitting upper circuits. Shares of Future Market Networks have been on upper circuit continuously for the last 12 sessions. The company’s shares rose 5 percent to Rs 11.15 in BSE on Friday. In the last one month, the shares of Future Market Networks have jumped more than 70 percent. The company’s shares have increased from Rs 6.55 to Rs 11 during this period. After the announcement of the results of the June 2024 quarter, the company’s shares have risen sharply. This has been said in a report by Moneycontrol.
Profits outpaced revenue
In the first quarter of the current financial year, the net profit of Future Market Networks has outpaced the company’s revenue. In the June 2024 quarter, the consolidated net profit of Future Market Networks has increased by 586 percent to Rs 83.4 crore. Future Market Networks had a profit of Rs 12.16 crore in the same period last year. At the same time, the company’s revenue in the first quarter of the current financial year has increased by 9.7 percent to Rs 24.6 crore, which was Rs 22.40 crore in the same period a year ago.
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The company’s shares had fallen by more than 97% to Rs 4
In the last few years, the shares of Future Market Networks have crashed. The company’s shares were at Rs 182.40 on 8 September 2017. The shares of Future Market Networks fell to Rs 3.95 on 31 March 2023. During this period, the company’s shares had fallen by more than 97 percent. So far this year, the shares of Future Market Networks have jumped 87 percent. At the same time, in the last one year, the company’s shares have seen a rise of about 86 percent. The 52-week high level of the company’s shares is Rs 11.15. At the same time, the 52-week low level of the company’s shares is Rs 5.31.
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