The shares of the Smallcap IT company specializing in providing intelligent solutions for data-driven businesses jumped upto 10 percent upon receiving a work order to deploy an Automatic Fare Collection system for 23 stations of Pune Metro Line 3 in Maharashtra.
Price action
With a market capitalization of Rs. 3,689.71 crores on Wednesday, the shares of Datamatics Global Services Limited jumped upto 9.85 percent making a high of Rs. 684.95 per share compared to its previous closing price of Rs. 623.55 per share.
What Happened
Datamatics Global Services Limited specializing in providing intelligent solutions for data-driven businesses has received a domestic work order to design, supply, install, test, commission, and integrate of Automatic Fare Collection (AFC) system for 23 stations of Pune Metro Line 3 in Maharashtra, India.
The company will be responsible for deploying the AFC system for 23 stations between Hinjewadi and Civil Court (Shivaji Nagar) in Pune across a fully elevated route length of ~23 km.
The proposed AFC system will efficiently manage passenger flow, significantly reduce the risk of fraud, and improve revenue collection. By minimizing the reliance on manual ticketing staff and offering real-time traffic and revenue management data, the system will enhance operational efficiency for the operator.
Pune Metro Line 3 is a public-private partnership project by the Pune Metropolitan Regional Development Authority (PMRDA) and a joint venture between TRIL Urban Transport Private Limited and Siemens Project Ventures GmbH (a subsidiary of Siemens Financial Services) on a Design, Build, Finance, Operate & Transfer (DBFOT) basis for 35 years.
Management Commentary
Rahul Kanodia, Vice Chairman and CEO of Datamatics said: “Datamatics is the only Indian Company to have a robust AFC solution. Over the years, we have invested in building expertise in AFC technology and have been part of large global projects. In India, we are proud to be part of the Lucknow Metro, Mumbai Metro, Kolkata Metro, Delhi-Meerut RRTS corridor, and now the prestigious Pune Metro.”
About the Company
Datamatics is a Digital Technology, Operations, and Experiences company that provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. With a complete digital approach, the Datamatics portfolio spans Digital Technology Solutions, Business Process Management, and Engineering Services powered by Artificial Intelligence. It has established products in Robotic Process Automation, Intelligent Document Processing, Business Intelligence, and Automated Fare Collection.
Financials
The company’s revenue rose by 14.8 percent from Rs. 379.91 crore to Rs. 436.15 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 41.3 crores to Rs. 74.31 crores in Q3FY24-25.
Written by Sridhar J
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