Toyam Sports Hit Upper Circuit After Announcing Q3FY24 Results: Details Inside

Delhi-based Toyam Sports announced its Q3FY24 results on Wednesday. Net Sales at Rs 2.29 crore in December 2023 up 17.3% from Rs. 1.95 crore in December 2022.

The company's quarterly net profit at Rs. 1.51 crore in December 2023 up 454.54% from Rs. 0.27 crore in December 2022. The EBITDA stands at Rs. 1.51 crore in December 2023 up 439.29% from Rs. 0.28 crore in December 2022.

TOYAM SPORTS EPS has increased to Rs. 0.27 in December 2023 from Rs. 0.07 in December 2022.

Recently, the company revealed plans to employ a rights issue to raise funds totalling Rs 50 crore. The Board of Directors authorised the issuance of partially paid-up equity shares by way of rights issue to the eligible equity shareholders as of the record date to be announced subsequently in due course in order to raise funds for an aggregate sum not to exceed Rs 50 crore.

In October, Toyam Sports' sports web series, 'Kumite 1 Warrior Hunt,' was chosen as an official entry for the 'Kenya International Sports Film Festival (KISFF)', the premier African film festival. It stands as India's first sports web series which was released in February 2023.

New Delhi-based Toyam Sports is the only listed company, on Indian bourses, engaged in various sports production, promotion and management. It focuses on sports marketing and management activities, as well as ventures into hospitality, healthcare, KIL arena, gaming and merchandising across the country.

After declaring Q3FY24 results, the shares of Toyam Sports were trading at a 4% upper circuit limit at Rs 5.92 apiece during the afternoon deals while writing this copy.