Turnaround Story: 20-Year MCX Software Partner Hits Upper Circuit; PAT Surges by 880 Per cent in FY24!
The company's shares have delivered an impressive return of over 40 per cent to their shareholders.
63 Moons Technologies specializes in computer programming, consultancy, and related services. The company has created a suite of financial market software designed to streamline trading and settlement of multi-asset and multi-currency products. These platforms enable exchanges to operate efficiently in both local and cross-border markets. Key software developed by 63 Moons includes DOME, Tradedart, PowerARMS, MarketXstream, and FOVEA for exchanges, as well as CNS and DMATS for clearing houses and depositories.
On Friday, a notable price spike led to increased investor participation, causing the stock to hit the upper circuit limit. The 63 Moons Technologies Limited’s stock closed at Rs 349.30 on the BSE, with a market capitalization of Rs 1,609.52 crore. Over the past year, the shares have delivered a return of over 40 per cent.
As per the Quarterly Results in Q4 FY24 63 Moons Technologies reported revenue of Rs 37.53 crore, representing a year-on-year de-growth of 66 per cent from Rs 11.60 crore last year. The company posted an operating loss of Rs 62.18 crore, compared to a profit of Rs 28.23 crore in the same quarter last year. The company’s net profit stood at Rs 3.82 crore in the Q4 FY24.
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According to the latest update, the promoters' stake stood at 45.63 per cent while the public investors hold a 50.15 per cent stake in the company. FIIs and DIIs owns a 4.12 per cent and 0.09 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.