The shares of digital software solution providers gained up to 4.7 percent after the company announced the partnership with Amazon Web Services (AWS) for technical expertise and demonstrated customer experience.
With a market capitalization of Rs 385.05 Crores, the shares of Systango Technologies Ltd were trading at Rs 262.50 a share, an increase of 2 percent from the previous closing price of Rs 257.80 a share.
According to the company filing, Systango Technologies Ltd announced the partnership with Amazon Web Services (AWS) for technical expertise and demonstrated customer experience. additionally, earlier this year, Systango was awarded the Adobe Solution Partner – BRONZE badge.
Furthermore, The company is officially partnered with Google Cloud for Cloud solutions. This will help to accelerate the client’s digital transformation with best-in-class data analytics, workplace collaboration, and security with seamless integration on Google Cloud.
Additionally, Securing a spot on the Clutch 1000 List for 2023 marked a significant accomplishment for the company, especially in light of the competition from over 2,80,000 B2B companies, and the company has incorporated a wholly owned subsidiary Systango in the US.
Systango Technologies Ltd’s revenue increased by 22 percent from Rs 22 Crore in Q2FY23 to 27 Crore in Q2FY24. During the same period, net profits increased by 100 percent from Rs 4 Crore to Rs 8 Crore.
Ashish Kacholia holds 4,52,800 shares, i.e. equivalent to 3.1 percent of the company as of the September quarter of 2023.
Systango Technologies Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 34.9 percent and a return on capital employed (ROCE) of 41.2 percent.
Systango Technologies Limited is in the software solutions business. With the help of the company’s products, businesses can create, deploy, and oversee their unique digital platforms.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
