Multibagger stock surges 12% post September quarter earnings, check details 

Shares of Avantel Ltd surged 12% today after the firm announced its earnings for the quarter ended September 2024. Avantel stock gained 12.66% to Rs 201 on BSE. Avantel shares opened higher at Rs 198.90 against the previous close of Rs 178.40 on BSE. Market cap of the firm climbed to Rs 4,590.50 crore on BSE. The multibagger stock has risen 843% in two years and zoomed 1301.26% in three years. Avantel shares have a beta of 1.1, indicating high volatility in a year. 

Avantel shares hit a 52-week low of Rs 83.98 on October 6, 2023 and a 52 week high of Rs 223.80 of July 9, 2024. 

In terms of technicals, the relative strength index (RSI) of the Avantel stock stands at 52.5, signaling it's trading neither in the overbought nor in the oversold zone. Avantel shares are trading higher than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day averages. Avantel stock zoomed 1518% in three years and delivered 673% returns in two years. In a year, the stock is up 108%. 

The firm reported a 42.43% rise in net profit to Rs 22.89 crore in Q2 against Rs 16.07 crore in the second quarter of the previous fiscal.  Revenue zoomed 42.49%  to Rs 77.42 crore in the September 2024 quarter against Rs 54.33 crore in the September quarter of the previous fiscal.  

EBITDA surged 39% to Rs 34.69 crore in the last quarter against Rs 24.96 crore in the September 2023 quarter.  

Earnings per share climbed to Rs 0.94 in Q2 against Rs 0.66 in the  September 2023 quarter. 

Avantel is engaged in the manufacturing of wireless front-end, satellite communication, embedded systems, signal processing, network management and software development and rendering related customer support services.