IT Stock that provides cognitive computing, hyper-automation, robotic process automations etc., jumps 13 percent in the day’s trade after it announced its quarter ended September (Q2FY24) results with 145 percent jump in its Net profits
At 3:05 p.m the shares of Silver Touch Technologies were trading at Rs. 641.35 up 11.45 percent from its previous day close price of Rs. 575.45 and its market capitalization is Rs. 810 Crores.
Silver Touch Technologies Net Profit grew 145 percent QoQ from Rs. 1.47 Crores in Q1FY24 to Rs. 3.6 Crores in Q2FY24 and it grew 68.22 percent YoY from Rs. 2.14 Crore in Q2FY23 to Rs. 3.6 Crore in Q2FY24
Its Revenue from operations grew 25 percent YoY from Rs. 41.24 Crores in Q2FY23 to Rs. 51.52 Crores in Q2FY24 and it grew 21 percent QoQ from Rs. 42.52 Crores in Q1FY24 to Rs. 51.52 Crores in Q2FY24.
As per the company’s financial statements its revenue grew 17.33 percent from Rs. 139.59 Crores in FY22 to Rs. 163.78 Crores in FY23, accompanied by increasing profits of Rs. 6.43 Crore to Rs. 9.71 Crore.
It has reported a return on equity (ROE) of 9.70 percent and a return on capital employed (ROCE) of 13.65 percent, it is making good returns on its equity and capital employed as its profitability ratios are increasing YoY.
Silver Touch Technologies Limited is an IT solutions provider that provides cognitive computing, hyper-automation, analytics, robotic process automations and various other services to its customers worldwide as per their requirements.
Written by: Bharath K.S
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