Trending Stock: Micro-Cap IT stock hits upper circuit on outstanding results, declares stellar dividend!

The stock is up by 25 per cent in just 1 year and over 80 per cent since the stock is listed on BSE & NSE

On Thursday, one of the Top Gainers on BSE, shares of Dev Information Technology zoomed 10 per cent upper circuit to Rs 111.65 per share from its previous closing of Rs 101.50. The shares of the company saw a spurt in volume by more than 4.67 times on BSE.  

Dev Information Technology Ltd, a leading IT services company in India, has announced its Quarterly Results and annual results for the year ended March 31, 2023. Details below:   

Quarterly Results: The net sales increased by 40.11 per cent and the net profit increased by 2,144 per cent with EPS of Rs 1.62 in Q4FY23 compared to Q4FY22.      

Annual Results: The net sales increased by 24 per cent and net profit increased by 89.88 per cent with EPS of Rs 4.06 in FY23 compared to FY22.     

Additionally, the company has declared a dividend final dividend of 5 per cent or Rs 0.25 per share of the face value of Rs 5 fully paid.    

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Dev Information Technology Ltd is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation and data technologies. The company has bagged multiple orders from various clients across the globe.   

The stock is up by 25 per cent in just 1 year and over 80 per cent since the stock is listed on BSE & NSE (Listing date: February 18, 2023). The stock has a ROE of 26 per cent and a ROCE of 28 per cent.   

Investors should keep an eye on this IT stock.