Teamo Productions HQ Shares Hits 5% Upper Circuit As Board To Declare Q1FY25 Results Soon

On Thursday, the shares of small-cap company Teamo Productions HQ were trading in the 5% upper circuit limit at Rs 1.45 after the Board of Directors declared that they will consider and approve Q1FY25 results soon on Friday, July 12, 2024.

"We wish to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 12, 2024 at the registered office of the Company, inter-alia, to transact the following businesses: i. consider, approve and take on record the Unaudited Financial Results of the company for the quarter ended June 30, 2024; ii. any other item(s) with the permission of the Chair," said Teamo Productions HQ in a regulatory filing on Wednesday.
"As already intimated to the Stock Exchanges vide our letter dated June 29, 2024, the trading window for dealing in securities of the company remains closed for the Designated Persons and their immediate relatives till the expiry of 48 hours after the declaration of Unaudited Financial Results of the Company for the quarter ended June 30, 2024," the company further informed to stock exchanges.

Recently on Tuesday, June 11, 2024, the Board of Directors of Teamo Productions HQ considered and approved the allotment of 8,00,00,000 equity shares having a face value of Re. 1/- each at an issue price of Rs. 1.50/- each (including a premium of Rs. 0.50/- each), consequent upon the conversion of 80,00,000 warrants issued at an issue price of Rs. 15/-each, after adjusting the number of shares, paid-up capital per share and premium per share post-sub-division of the nominal value of the equity share of the company from 1 equity share of Rs. 10/- each to 10 equity shares of Re. 1/- each to the "Non-Promoters/Public Category", on a preferential basis, upon receipt of the balance amount aggregating to Rs. 9,00,00,000/- at the rate of Rs. 11.25 per warrant (being 75% of the issue price per warrant) from the allottees, as per a stock exchange filing.

Exchanges have been notified by Teamo Productions HQ Limited, formerly known as GI Engineering Solutions Limited, that its net profit for the January-March quarter of fiscal year 2024 increased by 140% year over year to Rs 3.47 crore. The firm claims that it made Rs 1.43 crore in net profit during the same quarter of FY23. Nonetheless, the company's overall sales, which were Rs 114.60 crore, decreased by over 70% in Q4FY23. It was Rs 375.58 in FY2023's fourth quarter. During the entire fiscal year (FY2023-24), the company's net profit increased by 69% to Rs 4.88 crore. Teamo Productions declared a net profit for the year that ended in March 2023 of Rs 2.88 crore. During the entire fiscal year (FY2023-24), the company's net profit jumped by 69% to Rs 4.88 crore. Teamo Productions declared a net profit for the year that ended in March 2023 of Rs 2.88 crore. At Rs 457.96 crore, total revenues for FY24 represented a 45% YoY drop from FY23.