Order to Drive Expansion in Digital Lending Solutions with Strong Financial and Stock Performance

Shares of the company have gained more than 160 per cent in the last six months.

The stock gave multibagger returns of 165 per cent in just 1 year and over 330 per cent returns in 3 years.

The contract is scheduled for execution over a period of three years.

Shares of the company have gained about 100 per cent in the last six months.

The net sales increased by 33.94 per cent to Rs 251.67 crore, operating profit increased by 51.75 per cent to Rs 44.63 crore and net profit increased by 57.24 per cent to Rs 30.15 crore in Q1FY24 over Q1FY23. In FY23, the net sales increased by 25.04 per cent to Rs 973.98 crore and net profit increased by 7.34 per cent to Rs 176.27 crore compared to FY22.

Post the announcement of the dividend declaration, shares experienced considerable demand and gained 15-18 per cent in the last five trading sessions. 

BSE Smallcap index also closed in the green territory at 25,640.81, up by 0.28 per cent.

The benchmark indices ended higher for the second consecutive day on the back of positive global cues. A lowering of FII selling made the domestic market comfortable in squeezing volatility. RBI’s upcoming policy meeting will be the key driver in the market, where they are expected to announce an additional policy rate hike of 25-35 bps.