The earnings season for the June 2024 quarter (Q1 FY24-25) for IT companies started in mid-July 2024, where margins saw slight improvement due to cost optimisation and high utilisation levels.
Following are the two Information Technology (IT) stocks that have seen notable increases in their share prices after announcing robust financial results for Q1 FY24-25:
Intense Technologies Limited
With a market cap of Rs. 344.4 crores, the shares of a software products and solutions development enterprise hit a 5% upper circuit on BSE to Rs. 146.75 on Wednesday, as against its previous closing price of Rs. 139.8.
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the BSE on Tuesday post-market hours.
The revenue from operations for Q1 FY24-25 stood at Rs. 39.4 crores, marking a 67 percent YoY rise from Rs. 23.6 crores in Q1 FY23-24, as well as a 27 percent growth quarter-on-quarter from Rs. 31 crores in Q4 FY23-24.
The consolidated net profit jumped by 71.8 percent YoY to Rs. 5.5 crores in Q1 FY24-25, as against Rs. 3.2 crores in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 83.3 percent from Rs. 3 crores in Q4 FY23-24.
On a year-on-year basis, the EBITDA jumped from Rs. 4.6 crore in Q1 FY23-24 to Rs. 8.8 crore in Q1 FY24-25, representing a growth of 91.6 percent.
The shares of Intense Technologies have delivered positive returns of nearly 82.5 percent in one year as well as around 46.2 percent returns year-to-date.
Intense Technologies Limited, a global enterprise software products and services company, is involved in the business of developing software products that are designed for data analytics and providing tech-enabled services for organisations.
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Quicktouch Technologies Limited
With a market cap of Rs. 87.8 crores, the shares of one of the leading IT solutions providers in India surged by 15.7 percent on NSE to Rs. 158.8 on Wednesday, as against its previous closing price of Rs. 137.25.
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the NSE on Tuesday post-market hours.
The revenue from operations for Q1 FY24-25 stood at Rs. 41.7 crores, marking a 265.8 percent YoY rise from Rs. 11.4 crores in Q1 FY23-24, as well as a 22.6 percent growth quarter-on-quarter from Rs. 34 crores in Q4 FY23-24.
The net profit jumped by 183.3 percent YoY to Rs. 1.7 crores in Q1 FY24-25, as against Rs. 0.6 crores in Q1 FY23-24, and on a quarter-on-quarter basis, it grew by 41.6 percent from Rs. 1.2 crores in Q4 FY23-24.
Further, the Board of Quicktouch Technologies approved the acquisition of a 100 percent stake in Pinnacle Exim IT Solutions LLC, a company incorporated in UAE.
Quicktouch Technologies will acquire 300 shares of Pinnacle Exim at US$ 57,737.92 per share, on or before December 2025.
Pinnacle Exim IT Solutions LLC is engaged in various sectors, including software applications development and management.
The acquisition is expected to significantly extend Quicktouch’s reach into foreign markets, with Pinnacle’s established networks in the Middle East, Singapore, Hong Kong, and other countries.
Quicktouch Technologies Limited is engaged in the business of software IT solution and consulting services, IT product/software development & software commercial training, and web designing.
Written by Shivani Singh
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