52-week high alert: This multibagger stock announces stellar jump in net profitability!

The stock has witnessed significant buying activity as it has given multibagger returns of more than 220 per cent

On Friday, shares of Cigniti Technologies surged more than 2 per cent to trade on a new 52-week high of Rs 895.15 apiece on BSE. The scrip witnessed massive spurt in volume.   

Cigniti Technologies Limited is the world’s leading AI & IP-led digital assurance and digital engineering services company. Cigniti has over 4100 employees who assist multinational corporations in 24 different countries to speed up their digital transformation journey.   

In Q4FY23, the consolidated revenue from operations increased more than 23 per cent from last year’s same quarter to Rs 424.97 crore. The reported EBITDA level stood at Rs 68.37 crore, witnessing a surge of more than 109 per cent from March 2022 quarter. The net profit of the company zoomed more than 117 per cent from corresponding quarter last year to Rs 49.24 crore.   

In its financial report for the fiscal year FY22-23, Cigniti Technologies disclosed impressive numbers, with total revenue amounting to Rs. 1647.58 crore, a substantial 32.7 per cent rise from the previous fiscal year. Furthermore, the net profit for the year was Rs. 168.32 crore, showing a remarkable increase of 83.5 per cent from the previous year.  

As a result, the board has proposed a final dividend of Rs. 3 per share, in addition to a special dividend of Rs. 2.50 per share to commemorate the company's 25-year milestone achievement.  

The stock has witnessed significant buying activity as it has given multibagger returns of more than 220 per cent in just 3 years. Moreover, the stock has rallied more than 100 per cent over the past 1 year. Keep a close eye on this trending stock.