The shares of this IT company gained up to 7.4 percent after the company came into agreement with the United Nations for the provision of IT Staffing Support Services for the Office of Information and Communications Technology.
With a market capitalization of Rs 417.30 Crores. Trigyn Technologies Ltd, On Thursday, The shares were trading at Rs 135.55 a share, an increase of 5.12 percent from the previous closing price.
The agreement that Trigyn Technologies Ltd. entered into with the UN for the provision of IT Staffing Support Services for the Office of Information and Communications Technology (OICT) is now extended and is set to expire on June 30, 2024, according to the company filing. Additionally, the Not-To-Exceed Amount (NTE) that the UN is required to make under this contract has been revised to US$ 263,142,318.84.
Looking into the company’s performance, ‘s revenue decreased by 2 percent from Rs 324 Crore in Q2FY23 to Rs 324 Crore in Q2FY24. During the same period, net profit is constant at Rs 11 crore.
The company has made significant investments in tools and human capital to make sure that this area of its business can respond to the highly competitive nature of this industry. The expansion of its clientele of esteemed customers is a testament to the company’s success. A fully integrated Resource Management System (RMS), which enables the smooth integration of opportunities, is the foundation of this offering.
Along with the previously mentioned paragraph, the company is also pursuing e-government and related initiatives in other geographies through Trigyn Technologies Inc., its US subsidiary. The business kept concentrating on moving overhead to the least expensive regions to save money and improve service offerings through additional automation, knowledge transfer, and training.
Trigyn Technologies Limited offers IT services & solutions to customers throughout the world. Through its global operations, Trigyn provides comprehensive, high-quality, and reasonably priced solutions and services.
Written by:- Abhishek Singh
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