The shares of this engineering and information technology solutions provider gained up to 12 percent after the company’s net profit and revenue increased by 100 percent and 9 percent YoY, respectively in the third quarter.
With a market capitalization of Rs 1,965.72 crore, the shares of Genesys International Corporation Ltd were trading at Rs 519.55 per share, increasing around 8.43 percent as compared to the previous closing price of Rs 478.20 apiece.
Looking into the company’s Performance, Genesys International Corporation Ltd’s revenue increased by 79 percent on a quarter-on-quarter basis from Rs. 33 crores in Q2FY24 to Rs. 59 crores in Q3 FY24. Furthermore, revenue jumped by 9 percent year on year from Rs. 54 crores in Q3FY23 to Rs.59 crores in Q3FY24.
Genesys International Corporation Ltd’s net profit on a quarter-on-quarter basis from a loss of Rs.3 crores in Q2FY24 to a profit of Rs. 16 crores in Q3FY24. Further, net profit increased by 100 percent yearly from Rs. 8 crores in Q3FY23 to Rs.16 crores in Q3FY24.
Ace investor Ashish Kacholia holds 6,18,734 shares, i.e. equivalent to 1.57 percent of the company as of January 2024.
The company’s revenue in India climbed by 74% from Rs 54.33 crore in FY2021-22 to Rs 94.7 crore in FY2022-23, while revenue outside India increased by 37% from Rs 62.17 crore in FY2021-22 to Rs 85.21 crore in FY2022-23.
Genesys International was awarded a contract in December 2023 to use its digital twin mapping technology to rehabilitate Dharavi, a heavily populated urban community. Porter House has given an order of Rs 22 crore.
Genesys launched the new India Map stack in the December quarter, focusing on advanced platforms in consumer, logistics, automotive, and infrastructure areas. The company also partnered with the Survey of India (SOI) to revolutionize the country’s map content through the implementation of the ‘3D Digital Twin Mapping Program.
Genesys International Corporation Ltd provides Geographical Information Services such as photogrammetry, remote sensing, cartography, data conversion, terrestrial and 3D geo-content, position navigation mapping, and other computer-related services.
Written by:- Abhishek Singh
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