Datamatics Global rises after announcing strategic partnership with System Soft Technologies

Datamatics Global Services today announced that it has entered into a strategic partnership for strengthening North American presence with System Soft Technologies (SSTech), a leader in enterprise IT services, solutions & products. 

System Soft Technologies will leverage Datamatics Intelligent Automation (IA) products to deploy automation with speed and scale for its enterprise customers. 

Reacting to this, the company’s stock today increased by 4.34 per cent and made an intraday high of Rs 117.9 per share at around 1.34 pm. 

Besides, the company reported a net profit of Rs 23.97 crore in Q3FY21, an increase of 52.78 per cent. It had reported a profit of Rs 15.69 crore in Q3FY20. The company reported net sales of Rs 303.06 crore for Q3FY21, a decrease of 0.98 per cent as against the net sales of Rs 306.05 crore for Q3FY20. 

Datamatics Global Services provide intelligent solutions for data-driven businesses to increase productivity and enhance customer experience. It has a presence across various sectors such as banking, financial services, insurance, healthcare, manufacturing, international organisations, and media & publishing. 

According to BSE data, the stock traded at a P/E multiple of 29.18 and a price-to-book ratio of 1.34. The stock has a 52-week high and a 52-week low of Rs 131.05 and Rs 28.10, respectively. 

At the time of market close on Wednesday, the stock of the company was trading at Rs 115.30, up by 2.04 per cent on BSE.