Shares of Tonbo Imaging Ltd. surged as much as 14% on Thursday, November 5, in response to the September quarter results, which saw the company deliver a net profit compared to a loss during the same quarter last year. With this move, the stock has also doubled from its issue price within 10 trading sessions of listing.
For the September quarter, Tonbo delivered a net profit of ₹23.5 crore compared to a net loss of ₹10 crore during the same quarter last year.
Tonbo Imaging’s revenue stood at ₹183 crore at the end of the September quarter, compared to just ₹8.8 crore it reported during the year-ago quarter.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) during the quarter came in at a positive ₹43.6 crore from an EBITDA loss of ₹3.4 crore during the last year’s base quarter.
Tonbo Imaging’s ₹852 crore IPO saw healthy subscription figures during the three-day period, with overall subscription at 135.9 times. Subscription figures were led by the Qualified Institutional Bidders (QIBs), whose portion was subscribed over 293 times the total number of shares reserved for them.
Subscription for the non-institutional investors stood at 170.9 times, while those for retail investors was also subscribed 31 times the shares on offer.
Shares of Tonbo Imaging are up 13.3% after the results announcement, at ₹1,445. The stock has now doubled from its IPO price of ₹700 per share, having ended the first trading day on the bourses with gains of over 60% from the issue price.
Tonbo Imaging Q2 Results: Stock jumps 14% after quarterly profit; Doubles from IPO price in 10 sessions