This micro-cap IT stock soar 9 per cent as it secured an order worth Rs 72 lakh!

The company has reported amazing numbers in its Q4 and FY23 results, declares stellar dividend.

Dev Information Technology Ltd informed that the company secured a noteworthy order from Gujarat International Finance Tec-City (GIFT) an undertaking of the Gujarat Government for Microsoft 365 and Azure Infrastructure for organizational data storage. The order is worth Rs 72 lakh approx. and will be completed within 36 months from LOI. 

According to the financials, the net sales increased by 40.11 per cent and the net profit increased by 2,144 per cent in Q4FY23 over Q4FY22. The net sales increased by 24 per cent and net profit increased by 89.88 per cent in FY23 over FY22. The company has declared a dividend final dividend of Rs 0.25 per share of the face value of Rs 5 fully paid.

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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.

On Friday, shares of Dev Information Technology zoomed 9 per cent to an intraday high of Rs 121 per share. The shares of the company saw a spurt in volume by more than 3.47 times on BSE.

The stock is up by 31 per cent in 1 year and over 93 per cent since the stock is listed on BSE & NSE (Listing date: February 18, 2022). 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.