The shares of the cloud-based solution provider gained up to 10 percent after the company bagged a prestigious order from Webel Technology Limited worth Rs 4.62 crore.
With a market capitalization of Rs 21.84 crore, the shares of Euphoria Infotech (India) Ltd were trading at Rs 75.25 per share, increasing around 7 percent as compared to the previous closing price of Rs 70.15 apiece.
Reason for Rise:-
The shares of the company have seen bullish movement after Euphoria Infotech (India) Ltd bagged a prestigious order from Webel Technology Limited for the implementation of IT and ITes, the value of this contract is Rs 4.62 crore which is expected to be completed with March 2025. Webel Technology Limited is a nodal agency for the Government of West Bengal.
Financial Performance:-
Looking into the company’s financial, Euphoria Infotech (India) Ltd’s revenue decreased by 35 percent from Rs 3.65 Crore in H1FY24 to 2.36 Crore in H1FY24. During the same period, net profits decreased by 48 percent from Rs 0.60 crore to Rs 0.31 crore.
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Recent orders:-
Recently, the company received a new order from Webel Technology Ltd worth Rs 2.53 crore for providing recruitment services for the West Bengal Police Recruitment Board, Govt of West Bengal. Webel Technology Limited is a nodal agency for the Government of West Bengal for implementation of IT and ITes.
Future Outlook:-
The firm plans to use cutting-edge technology to broaden its influence in India and throughout the world. The organization is committed to creating solutions that encourage corporate development, efficiency, and technical innovation while making major contributions to the IT and IT industries.
Furthermore, Euphoria Infotech has built strategic connections with government and financial institutions, serving as a technology partner for over 100 municipalities in West Bengal. The firm is a channel partner of Webel Technologies Limited, which strengthens its government relationships and project acquisition skills.
Company Snapshot:-
Euphoria Infotech (India) Ltd creates unique web apps for a variety of sectors and citizens. They also provide consulting services to assist clients with software development, implementation, and maintenance.
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Written by:- Abhishek Singh
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