52-week high alert: Multibagger micro-cap stock reports a 2,144 per cent jump in net profit; secures 4.06 crore orders in just 2 months!

The stock gave multibagger returns of 103.79 per cent from its 52-week low of Rs 74.10 per share.

On Friday, the benchmark indices ended the day in the green. BSE Sensex Index was up 0.19 per cent at 62,547. The shares of Dev Information Technology zoomed 3.07 per cent from its previous closing of Rs 146.50 to a new 52-week high of Rs 151 per share. The stock gave multibagger returns of 103.79 per cent from its 52-week low of Rs 74.10 per share.

Quarterly Results: The net sales increased by 40.11 per cent and the net profit increased by 2,144 per cent in Q4FY23 compared to Q4FY22. The EPS for Q4FY23 stood at Rs 1.50.

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

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.

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. In the financial year 2023-2024, the company received orders worth Rs 4.06 crore from various clients.

The stock is up by 47 per cent in 1 year and over 60 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.