366 per cent jump in net profit: This multibagger micro-cap IT company bags new orders worth Rs 35.0 crore!

Shares of the company gained more than 25 per cent in the last six months.

Trigyn Technologies Limited informed in the exchange filing that the company has received a new order from Digital India Corporation, Ministry of Electronics and Information Technology, Govt. of India. The order is for Providing Technical Manpower for LokOS project. The project duration will be 3 (three) years from the award of work i.e., up to 23.08.2026 and further extendable based on performance. The project value is Rs. 35 Crores (3 Years) and Rs. 65 Crores (5 Years).

Trigyn Technologies Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The revenue of the company for Q1FY24 stood at Rs 322.50 crore which grew by 13.05 per cent YoY. The company's operating profit stood at Rs 20.92 crore, while the PAT of the company stood at Rs 12.09 crore, which grew by 103.62 per cent YoY and on a QoQ basis it grew by 366 per cent.

The company has a healthy order book of Rs. 408 crores as of December 31, 2022, which provides healthy revenue visibility for FY2024.

Trigyn Technologies Limited is an IT company providing IT solutions & services to global clients. Trigyn delivers end-to-end quality and cost-effective solutions and services with its operations worldwide. The company offers a comprehensive range of services including offshore development and maintenance solutions and services, staff augmentation, managed services, and business process outsourcing.

The stock has given multibagger returns of over 150 per cent in the last three years.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.