This small-cap IT stock secured an order worth Rs 3 crore!

In Q3FY22, the company reported a net loss of Rs 0.29 crore but in Q3FY23 it skyrocketed to a net profit of Rs 2.66 crore.  

On Wednesday, the benchmark indices ended the day in the green. BSE Sensex Index surged 0.60 per cent at a level of 57,960.09. On the sectoral front, the indices were trading higher, with the BSE IT Index and BSE Commodities Index leading the gainers.  

On Wednesday, shares of Dev Information Technology zoomed 5 per cent upper circuit from its previous closing of Rs 88.55 to Rs 92.15 per share. Today, at 03:30, shares of the company ended positive, up 3.84 per cent to Rs 91.95 per share.  

The company informed that it has secured a noteworthy order from National Informatics Centre Service Inc. for the Ministry of Electronics and Information Technology for its project – Lok Sabha Secretariat for the design, development, implementation and maintenance of its application software and website. The order is worth Rs 3 crore approx. which will be completed within 6 months.   

Dev Information Technology Ltd has a market cap of Rs 203.38 crore. The company is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation and data technologies. In Q3FY22, the company reported a net loss of Rs 0.29 crore but in Q3FY23 it skyrocketed to a net profit of Rs 2.66 crore.  

The shares of the company saw a spurt in volume by more than 1.04 times on BSE.  The stock is up by 38.31 per cent in 1 year. Investors should keep this IT stock under the radar.