After the release of the latest results on Friday, the stock experienced a strong rise. Currently, the stock is trading at 27% above the 50-day moving average and 34% below the 200-day moving average. The strong and rising volume that has crossed the averages from the previous day and the preceding week is supporting the stock price.
RPSG Venture Ltd
The Company was established with the intention of, among other things, owning, running, investing in, and promoting businesses in the areas of information technology, business process outsourcing, and other actions. The business provides application development and administration, setup, operation, and maintenance of IT infrastructure, as well as management of cyber security solutions.
The stock belongs to a small-cap company, with a market capitalization of Rs. 1,785 Cr. On Friday shares of this company closed 8% up at Rs. 603.25.
According to the company’s exchange filing, total consolidated revenue grew by 17% YoY basis from Rs. 1,963.06 in Q1 FY23 to Rs. 2,300.98 Cr in Q1 FY23 and 27% increased QoQ basis from Rs. 1,803.25 Cr in Q4 FY23 to Rs. 2,300.98 Cr in Q1 FY24.
In Q1 FY24, the company generated 68% of its revenue from process outsourcing, 4.6% from FMGC, 1.4% from property, 25% from sports, and 1% from other sources.
Net profits rose by 412% YoY basis from Rs. 70.66 Cr in Q1 FY23 to Rs. 362.40 Cr in Q1 FY24 and the company has reported a 374% net profit growth from a loss of Rs. 132.15 Cr in Q4 FY23 to Rs. 362.40 Cr profit in Q1 FY24.
As of June 2023, Promoters hold 59.09%, FIIs hold 11.03%, DIIs hold 2.27% and the Public hold a 27.07% stake in this company.
Written by Sheshadri N
