The shares of the leading Staffing and Recruitment Services Provider gained up to 8 percent after the company received a new order from Wipro Ltd worth Rs 10.40 crore.
With a market capitalization of Rs 32.18 crore, the shares of ITCONS E-Solutions Ltd were trading at Rs 61.50 per share, decreasing around 0.28 percent as compared to the previous closing of Rs 61.67 apiece.
As per the exchange filing, ITCONS E-Solutions Ltd has won Wipro Limited’s new bid for 90 personnel to deliver desktop/helpdesk support services over a five-year term. Resource deployment will begin on May 1, 2024, and will continue thereafter. The total sum of the bid is Rs 10.40 crore.
Looking into the company’s financial, ITCONS E-Solutions Ltd’s revenue decreased by 20 percent from Rs 16.05 crore in Q2FY23 to 12.78 crore in Q2FY24. During the same period, net profits decreased by 27 percent from Rs 1.06 crore to Rs 0.77 crore.
In February 2024, the firm signed agreements with I3CLogic Technologies Pvt Ltd to supply recruiting services, as well as with Aakash Educational Services Limited (Aakash BYJU’S).
The firm has well-known and reputable clients in the information technology, staffing and recruitment, food, and FMCG industries, among others, including multinational corporations. Currently, Manpower Supply Services make for the majority of company income, with Manpower Souring Services contributing the remainder.
According to the company’s primary financial criteria, the return on equity was 24.04 percent in FY22-23, while the return on capital employed was 31.70 percent. Furthermore, the net profit margin was 6.13 percent for fiscal year 22-23.
According to the most recent ownership pattern, Promoters own 59.36 percent of the shares, with Retail Investors owning the remaining 40.63 percent.
ITCONS E-Solutions Limited provides human resource services to both public and commercial companies in the organized sector, with a variety of roles and responsibilities. The Company primarily provides workforce supply/recruitment and labor sourcing/staffing services.
Written by:- Abhishek Singh
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