Multibagger in just 1 year: This micro-cap IT company reports a 127 per cent jump in net sales; do you own it?
The stock gave multibagger returns of 154 per cent in just 1 year and over 600 per cent in 5 years.
Dev Information Technology Ltd. is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation, and data technologies. The company announced its Quarterly Results ended June 30, 2023. Details below:
Financial Highlights for the Q1FY24 (Consolidated):
- Total Revenue stood at Rs 60.46 crore, up 127.52 per cent over Q1FY23.
- Operating profit stood at Rs 3.29 crore, up 40.51 per cent over Q1FY23.
- Profit After Tax stood at Rs 1.81 crore, up 12.18 per cent over Q1FY23.
- The EPS for Q1FY23 stood at Rs 0.82.
According to the annual results, net sales increased by 24.38 per cent to Rs 124.16 per cent and net profit increased by 709.69 per cent to Rs 9.02 crore in FY23 over FY22. In the previous financial year, the company announced a final dividend of 0.025 per equity share and stock split from a face value of Rs 10 to a face value of Rs 5. The record date for the dividend was September 22, 2022 and the record date for the stock split was November 25, 2022.
Dev Information Technology Ltd has a market cap of Rs 353.23 crore. The company is an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation, and data technologies.
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Today, shares of Dev Information Technology Ltd surged 1.48 per cent to Rs 130 per share from its previous closing of Rs 128.10 per share. The stock gave multibagger returns of 154 per cent in just 1 year and over 600 per cent in 5 years. Investors should keep an eye on this IT stock.
Disclaimer: The article is for informational purposes only and not investment advice.