Shares below 100: Keep a close eye on this IT service provider which jumped more than 16 per cent in todays session

The company won India’s best FinTech award in the month of September, which was awarded by Nirmala Sitharaman.

On Wednesday, shares of IRIS Business Services zoomed more than 16.7 per cent from its previous close level of Rs 79.20 to make an intraday high of Rs 93.0. The scrip witnessed a spurt in volume by more than 1.62 times.  

The company through its press release announced that it has launched the Office 365- based disclosure management module. This disclosure management module falls under the umbrella of IRIS CARBON range of products serving global organizations with their structured financial reporting and analytics. This module will enable financial and non-financial reporting teams to streamline their authoring process.  

Recently, the company announced its Q2FY23 results, wherein the sales rose 19.22 per cent to Rs 17.71 crore against the previous quarter ended September 2021. The net profit of the company surged by 51.35 per cent to Rs 0.56 crore against the corresponding quarter last year.  

IRIS Business Services is the only listed SaaS company that provides technology solutions in the regulatory technology space across 44 countries globally. Headquartered in Mumbai, with subsidiaries in the United States, Singapore and Italy, IRIS has been the most trusted name in structured financial data collection, creation, processing and consumption since 2005. The company won India’s best FinTech award in the month of September, which was awarded by Nirmala Sitharaman.   

Keep a close eye on this trending IT service company.