IT stock specializing in business application development for web and mobile, Blockchain-based software solutions, and Robotic process automation jumped 18 percent in the day’s trade upon posting its Q4FY24 results with a 95 percent jump in Net Profits.
With a market capitalization of Rs. 1,055 Crores, the shares of Infobeans Technologies Limited were trading at Rs. 434.40, up 13.91 percent from its previous day’s close price of Rs. 381.35.
Its revenue from operations grew by 5.42 percent YoY from Rs. 91.95 Crores in Q4FY23 to Rs. 96.94 Crores in Q4FY24 and it grew by 8.79 percent QoQ from Rs. 89.1 Crores in Q3FY24 to Rs. 96.94 Crores in Q4FY24. Annually it generated a revenue of Rs. 385.32 Crores in FY23 and Rs. 368.52 Crores in FY24 indicating a decline of 4.36 percent YoY.
Its Net Profit grew by 95 percent YoY from Rs. 4.74 Crores in Q4FY23 to Rs. 9.24 Crores in Q4FY24 and it grew by 66 percent QoQ from Rs. 5.56 Crores in Q3FY24 to Rs. 9.24 Crores in Q4FY24. Annually it generated a Net Profit of Rs. 35.96 Crore in FY23 to Rs. 22.47 Crores in FY24, indicating a decline of 38 percent.
Infobeans Technologies Limited is primarily engaged in providing software development services, specializing in business application development for web and mobile, Blockchain-based software solutions, robotic process automation, and many more.
It has a strong clientele base with some of the well-known players like ALM, Trip Advisor, Co Advantage, SBMC, IQVIA, and many others. It generates 51 percent of its revenue from providing Digital Transformation services and 49 percent from product engineering services.
Infobeans Technologies Limited has reported a return on equity (ROE) of 16.65 percent, a return on capital employed (ROCE) of 18.55 percent, and debt to equity ratio of 0.02.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
