Stellar Q4 result: This multibagger micro-cap company reports a 2,144 per cent jump in net profit; declares dividend!

The stock is up by 12.25 per cent in 1 year and over 60 per cent since the stock is listed on BSE & NSE.

Dev Information Technology Ltd, a leading IT services company of 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 1.50 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.   

On Wednesday, shares of Dev Information Technology zoomed 4.64 per cent to Rs 101.50 per share with an intraday high of Rs 101.74 and an intraday low of Rs 96.65. The shares of the company saw a spurt in volume by more than 4.65 times on BSE.   

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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 12.25 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.