Avance Technologies share price was locked in at 2% upper circuit of ₹1.68 apiece on the BSE Monday after the small-cap IT company announced its Q1 results. The penny hit the upper circuit for the twenty eighth consecutive trading session.
Avance Technologies reported a net profit of ₹54.13 lakh in the first quarter of FY26, registering a significant growth of 35% from ₹40.02 lakh in the corresponding quarter of the last fiscal year. The company had posted a net loss of ₹37.80 lakh in the quarter ended March 2025.
The company’s total revenue from operations in Q1FY26 jumped 496% to ₹25.21 crore from ₹4.23 crore, year-on-year (YoY). The company’s revenue in the previous quarter was ₹13.21 crore.
Avance Technologies Rights Issue
Avance Technologies said its board of directors considered and approved raising of funds through issue of fully paid-up equity shares on rights basis to the existing equity shareholders of the company for an amount not exceeding ₹49.90 crore.
Additionally, the company’s board also approved the re-designation of Latesh Poojary, Executive Director, as Chairman and Managing Director (MD) of Avance Technologies, subject to the approval of shareholders at the ensuing General Meeting and such other statutory approvals as may be required.
Avance Technologies Share Price Performance
Avance Technologies share price has gained 38% in one month, and has jumped by a staggering 155% in three months. The penny stock has rallied 162% in six months and is up 91% on a year-to-date (YTD) basis. Over the past two years, Avance Technologies shares have surged 442%, while it has delivered multibagger returns of 3,260% in five years.
At 3:00 PM, Avance Technologies share price was still locked in 2% upper circuit of ₹1.68 apiece on the BSE.
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