Under Rs 150: Microcap Company Secures Order Worth Rs 1 Crore - Operating Profits Double from Rs 7 Crore to Rs 14 Crore in FY24

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Under Rs 150: Microcap Company Secures Order Worth Rs 1 Crore - Operating Profits Double from Rs 7 Crore to Rs 14 Crore in FY24

Incorporated in 1997, this micro-cap company is in the business of providing IT-enabled services. DEV IT is a technology solutions provider that delivers digital transformation by leveraging cloud, automation, and data technologies.

Dev Information Technology Ltd has been awarded another order from RajCOMP Info Services Ltd for the "Study, Design, Development, and Implementation of an Online Portal for RERA 2.0, Rajasthan." RERA 2.0, Rajasthan enables the state government to ensure the smooth functioning and facilitate the growth and promotion of a healthy, transparent, efficient, and competitive real estate sector while protecting the interests of allottees, promoters, and real estate agents. DEVIT will be responsible for accommodating the requisite operations and maintenance and improving the application and portal. The order is to be executed within approximately 24 months, with a broad consideration or size of approximately Rs 1 crore.

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Currently, the shares of Dev Information Technology Ltd are trading at around Rs 130.50 per share on the BSE. The company’s current market capitalization stands at Rs 293.43 crore. Additionally, the shares have delivered an impressive multibagger return of around 26 per cent in the past 6 months.

As per the Quarterly Results, Dev Information Technology Ltd recorded a revenue of Rs 35.46 crore compared to Rs 60.46 crore. The operating profit stood at Rs 5.79 crore. The company's net profit stood at Rs 3.71 crore compared to a profit of Rs 1.83 crore. Looking at the annual performance, the company generated a revenue of Rs 164 crore in FY24. The operating profit for FY24 was Rs 14 crore with an operating profit margin of 8 per cent and a net profit of Rs 9 crore.

According to the shareholding pattern of the company, the promoters hold a significant 70.20 per cent stake. Public investors own 29.80 per cent of the shares.

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Disclaimer: The article is for informational purposes only and not investment advice.