The shares of this small-cap company jumped 2 percent after the company announced their quarterly results. The company was listed in November 2023.
With a market capitalisation of Rs. 4,849 crores, the shares of Protean eGov Technologies Ltd started Friday’s trading session on a higher note at Rs. 1,236 compared to its previous close at Rs. 1,198. The share hit a high of Rs. 1,247, gaining around 2 percent, also recorded as the company’s fresh 52-week high, and currently trading at Rs. 1,999 apiece.
Such a positive movement was observed after the company announced their June-September results. The revenue increased by 13 percent from Rs. 220.41 crores during the June quarter to Rs. 253.69 crores in the September quarter. In addition, the net profit increased marginally by 1.8 percent from Rs. 32.21 crores to Rs. 32.78 crores during the same timeframe.
Comparing these metrics on a YoY basis, the revenue zoomed by 24 percent from Rs. 177.66 crores in Q2 FY23 to Rs. 253. 69 crores during Q2 FY24. Furthermore, the net profit increased by 21 percent from Rs. 25.68 crores to Rs. 32.78 crores during the same period.
Coming onto the important financial ratios, the return on equity (RoE) was reported at 13.6 percent during FY22-23 and the return on capital employed was recorded at 18 percent during the same time horizon.
According to the latest shareholding pattern, the company has a ‘zero’ Promoter holding, as they are managed by professionals, DIIs have a huge holding of 54.55 percent, the Public or the Retail Investors have a 43.33 percent stake, and the remaining 2.11 percent shares are with FIIs.
Protean eGov Technologies Limited was incorporated in December 1995. The company was previously known as NSDL e-Governance Infrastructure Ltd. It is engaged in developing citizen-centric and population-scale e-governance solutions.
Written By Vaibhav Patil
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