Teamo Productions HQ Limited, formerly GI Engineering Solutions Limited, has informed exchanges that its net profit for the January-March period of FY2024 has jumped 140 per cent YoY to Rs 3.47 crore.

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According to the company, its net profit in the same quarter of the last fiscal was Rs 1.43 crore. However, the company's total sales fell by around 70 per cent to Rs 114.60 crore. It was Rs 375.58 during Q4 of FY2023.

For the full year (FY2023-24), the net profit of the company rose by 69 per cent to Rs 4.88 crore. Teamo Productions had reported a net profit of Rs 2.88 crore during the previous year ended March 2023. Total sales in FY24 stood at Rs 457.96 crore, representing a decline of 45 per cent YoY.

Meanwhile, benchmark equity indices Sensex and Nifty plunged by 1 per cent on Friday due to across-the-board profit taking by investors after a recent record-breaking rally as US inflation data dashed hopes of a rate cut by June.

The 30-share BSE Sensex tanked 793.25 points or 1.06 per cent to settle at 74,244.90 with 27 of its components ending in the red. During the day, it dropped 848.84 points or 1.13 per cent to 74,189.31.

The NSE Nifty declined 234.40 points or 1.03 per cent to close at 22,519.40 with 45 of its constituents settling lower. All Nifty sectoral indices closed in the red.

The BSE benchmark climbed 354.45 points or 0.47 per cent to settle at an all-time high of 75,038.15 on Wednesday. The Nifty advanced by 111.05 points or 0.49 per cent to reach a record closing peak of 22,753.80. During the day, it jumped 132.95 points or 0.58 per cent to hit a lifetime intra-day peak of 22,775.70.

Stock markets were closed on Thursday on account of Eid-Ul-Fitr.