Intraday Spotlight: Q3FY22 result of Variman Global Enterprises justifies new 52-week high

The company has given 171.60 per cent growth from the last one month.

Variman Global Enterprises Ltd is an IT solutions company providing solutions through software development, IT Infrastructure solutions and distributing IT Hardware to clients. The company was among the top gainers on the BSE intraday today. The stock hit its 4.99 per cent upper circuit in the early trade session today. 

The company has reported a strong set of Q3 numbers on February 10, 2022. It reported 469 per cent QoQ and 118.3 per cent YoY growth in revenue from operations. The net profit of the Q3FY22 stands at 69.97 lakh with 50 per cent growth as compared to the corresponding period of the last year. Net margins of the company are stable in Q3FY22 as compared to Q3FY21. 

In the last one week company has received orders worth Rs 18.12 crore. As per the regulatory filing, the company has received purchase orders of Rs 5.51 crore from Techwave Consulting and Rs 12.61 crore from Andhra Pradesh Medical Services and Infrastructure Development Corporation. The share price of the company has grown exponentially from last month. It has given a return of 171.60 per cent from January 11, 2022, to February 11, 2022. 

In the early trade session on Friday, the stock of Variman Global Enterprises Ltd hit its 4.99 per cent upper circuit and trading was halted at the new 52-week high of Rs 136.75, up by 4.99 per cent or Rs 6.50 per share. The 52-week high of the scrip is recorded at Rs 136.75 and the 52-week low at Rs 11.65 on the BSE.