Paramount Communications, once a penny stock, has generated impressive returns for investors over recent years. On Monday, the company’s shares rose by 5%, reaching an intraday high of ₹70.90.
Once trading below ₹10, the stock has now delivered up to a 900% return.
Paramount Communications’ 52-week high is ₹116.70, while its 52-week low stands at ₹54.36, with a current market cap of ₹2,092.77 crore.
Strong Performance Over Recent Years
In the past four years, Paramount Communications’ stock has surged by 912%, increasing from around ₹7 in October 2020 to the present ₹70.90.
Within the last three years, it has gained over 500%, and despite a 20% increase in the past year, it has fallen 21% in 2024 so far. The stock reached an all-time high in December 2023.
Q2FY25 Results and Company Background
For the September 2024 quarter (Q2FY25), Paramount Communications reported a net profit of ₹20.33 crore, a 4.31% rise from ₹19.49 crore in Q2FY24.
Sales increased significantly by 40.98%, reaching ₹355.89 crore, up from ₹252.44 crore in the same period last year.
Founded in 1978 by Shyam Sunder Agarwal, Paramount Communications specializes in manufacturing various types of cables for sectors like power, telecommunications, and railways.
The company exports globally, serving countries including Australia, Bangladesh, the US, the UK, and the UAE, and operates manufacturing facilities in Khushkheda, Rajasthan, and Dharuhera, Haryana.
