This micro-cap IT company partners with Fapcotech General Trading Company WLL!
Shares of the company are up by 12 per cent in just one month and over 40 per cent in six months.
IRIS Business Services Ltd, a leading information technology company in India, announced that the company, in partnership with FAPCOTECH General Trading Company W.L.L., Kuwait, has been selected by Boursa Kuwait to provide a solution related to the collection of disclosure-based data.
On Friday at 03:00 pm, shares of IRIS Business Services Ltd plunged 0.67 per cent to Rs 108 per share from its previous closing of Rs 108.73. The stock traded at an intraday high of Rs 112 and an intraday low of Rs 105.20.
IRIS Business Services Ltd provides solutions in the area of compliance, data and analytics with offerings across the information supply chain and data reporting standards (XBRL and SDMX, among others). Over the past four years, the company has made a shift from a services-focused business to a product-led model.
Talking about the financials, the company has a market cap of Rs 210 crore. According to the Quarterly Results, the net sales increased by 24 per cent to Rs 20.63 crore and the net profit increased by 41 per cent to Rs 0.93 crore in Q1FY24 compared to Q1FY23. According to the annual results, the net sales increased by 20 per cent to Rs 73.57 crore and the net profit increased by 324 per cent to Rs 4.28 crore in FY23 compared to FY22.
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Shares of the company are up by 12 per cent in just one month and over 40 per cent in six months. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.