The shares of the information technology (IT) solutions provider gained up to 9 percent after the company’s net profit and revenue increased by 599 percent YoY and 9 percent QoQ, respectively in the fourth quarter.
With a market capitalization of Rs 363.58 crore, the shares of Trigyn Technologies Ltd were trading at Rs 118.10 per share, increasing around 5.59 percent as compared to the previous closing price of Rs 111.85 apiece.
Looking into the company’s performance, Trigyn Technologies Ltd revenue increased by 9 percent on a quarter-on-quarter basis from Rs. 307 crore in Q3FY24 to Rs. 334 crore in Q4FY24. Further, revenue increased by 3 percent year on year, from Rs. 324 crore in Q4FY23 to Rs. 334 crore in Q4FY24.
Trigyn Technologies Ltd’s net profit increased by 186 percent on a quarter-on-quarter basis, from a loss of Rs. 22 crore in Q3FY24 to a profit of Rs. 19 crore in Q4FY24. Further, net profit increased by 599 percent year on year from Rs. 3 crore in Q4 FY23 to Rs. 19 crore in Q4FY24.
The company’s profitability measures show an decline in return on equity (RoE) from 6.43 percent in FY 21-22 to 5.09 percent in FY 22-23, while, during the same period return on capital employed (RoCE) decreased from 10.01 percent to 8.73 percent. In contrast, the net profit margin (NPM) was 2.72 percent in fiscal year 22-23.
In the company’s recent shareholding pattern, promoters own 44.51 percent while Retail shareholders own a 55.32 percent stake in the company and domestic Institutional Investors own a 0.01 percent stake.
Trigyn Technologies Limited is engaged in the business of providing information technology (IT) solutions, staffing, consulting, systems integration, managed services, software development, maintenance, and other services. It operates in one reportable segment, being Communications and nformation technology staffing support services.
Written by:- Abhishek Singh
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