Lypsa Gems sparkles bright

Lypsa Gems is sparkling bright today morning. The stock, which has closed yesterday at Rs.63, went up to Rs.675.50 today and is now at Rs.65 levels. The stock’s 52-week high and low stands at Rs.96.65 and Rs.49 respectively.

The Board has approved issue of bonus shares in the ratio of 2:5, subject to approval of shareholders in the forthcoming annual general meeting/extra ordinary general meeting.

The company has posted a whopping 700% (YoY) jump in net profit for Q4FY17 at Rs.7 crore. But sequentially, it is up 8% on a 14% (QoQ) rise in total income at Rs.80 crore. EBITDA came in at Rs.9 crore, up 17.5% and margins rose 33 bps to 10.8%.

It ended FY17 with a net profit at Rs.261 crore, almost half of FY16 net profit of Rs.477 crore.

Equity currently stands at Rs.21 crore and reserve is at Rs.71 crore.

The company recently tied up with E-commerce arm of Gitanjali Group, to sell Diamond studded jewellery under “Lypsa Atelier” brand, in the price range of Rs.        7,500-Rs.35,000.