Its EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at Rs 4.77 crore during the quarter and EBITDA margin at 21 per cent.
Stock Market News: South West Pinnacle Exploration shares are in a momentum for the past few sessions. The stok on Wednesday hit a 52-week high for the second day in a row. The stock started trading at Rs 186.90 and hit 52-week high of Rs 187. The jump in shares price came after the company declared its September 2023 quarterly result. The company in a stock exchange filing said that it posted net sales at Rs 23.27 crore in the quarter.
Its EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at Rs 4.77 crore during the quarter and EBITDA margin at 21 per cent. Incorporated in 2007, South West Pinnacle Exploration is engaged in the coal industry. It is an integrated service provider for end-to-end drilling and exploration of natural resources.
The company said that it has declared a successful bidder for two government tenders. The total value of contracts for which it has been declared as L-1 bidder is over Rs 100 crore.
“Hopeful of achieving the revenue growth of 15 to 20 per cent in the current financial year 2023-24,” the management said in a statement.
Meanwhile, the company has won a coal block in Jharkhand which has a geological reserve of over 84 million tons. It has signed a Coal Mine Development and Production Agreement with the Ministry of Coal for the same.