Zenith in Sight: Mid-cap IT stock hits fresh 52-week high with net profit more than doubled!

An unstoppable journey to multibagger status company delivers an incredible over 100 per cent return from December 2022 lows.

Currently Sensex is trading in red by around 1 per cent mainly due to fall of BSE Information Technology (IT) Index which is down by around 4 per cent and most of the companies are trading in red. But well known Mid-Cap IT company Zensar Technologies own by RPG Group surged by 4.10 per cent today outperforming the index and trading in green.

Yesterday the company has announced financials result for the quarter ended June 2023 or Q1FY24, speaking about the financials on a standalone basis the company's net revenue grew by 24.85 per cent YoY to Rs 564.7 crore from Rs 452.3 crore in the corresponding quarter last year. On a sequential basis net revenue remained almost flat and increased by 1.07 per cent from Rs 558.7 crore. The profit after tax (PAT) increased by 171.04 per cent YoY to Rs 148.8 crore from Rs 54.9 crore in the corresponding quarter last year. On a sequential basis, the company showed a decline in net profit by 1.98 per cent from Rs 151.8 crore.

On a consolidated basis, the company's net revenue grew by 2.52 per cent YoY to Rs 1255.6 crore from Rs 1224.7 crore in the corresponding quarter last year. On a sequential basis, net revenue increased by 1.27 per cent from Rs 1239.8 crore. The profit after tax (PAT) increased by 107.99 per cent YoY to Rs 156.2 crore from Rs 75.1 crore in the corresponding quarter last year. On a sequential basis, the company showed increase in net profit by 31.04 per cent from Rs 119.2 crore.

Today the script was opened at Rs 462.70 and currently it is trading at Rs 480.10, up by 4.10 per cent. Today it has hit a fresh 52-week high at Rs 483.90, and it has a 52-week low of Rs 202. The company has a market capitalization of around Rs 10,800 crore. Over the past year, shares of the company have given around an 84 per cent return. On December 2, 2022 shares of the company were trading around Rs 236 and since then it has given return of around 103 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.