The shares of this IT company jumped around 4 percent in Friday’s trading session after they entered into a Memorandum of Understanding with Marut Dronetech Private Limited to collaborate for the supply of drones.
With a market capitalization of Rs. 75.8 crores, the shares of Ram Info Ltd started Friday’s trading session positively at Rs. 110 compared to its previous close at Rs. 109.35. The shares hit a high of Rs. 113.90, gaining around 4 percent and closed the day at Rs. 113.
Such a positive movement was observed after the company in an exchange filing mentioned that under the ‘Namo Drone Didi Scheme, they have entered into a Memorandum of Understanding(‘ MoU ‘) with Marut Dronetech Private Limited to supply drones and undertake the services for Drone as a Service (DAAS) amounting to Rs. 1 crore.
From this order, the company has planned to expand its business in the field of Drone as a Service (DAAS) and will be a part of ‘Namo Drone Didi Scheme. This scheme seeks to empower women Self Help Groups (SHGs) and bring in new technologies through drone services in the agriculture sectors.
Coming to the financial statements published by the company, the revenue increased by 8.7 percent from Rs. 17.40 crores in the June quarter to Rs. 18.93 crores during the September quarter. In addition, the net profits magnified by 48 percent from Rs. 1.46 crores to Rs. 2.16 crores during the same timeframe.
According to the annual reports of the company, they are planning to venture into the realm of agri-tech and they aim to optimize agricultural practices, increase productivity, and foster sustainable food production. Simultaneously, the company seek to forge strategic partnerships and tap into new markets.
Headquartered in Hyderabad, Ram Info Ltd was incorporated in 1994. The company is engaged in providing IT-enabled services or software development with a focus on e-governance in administration, utilities, IT-enabling consumer services etc.
Written By Vaibhav Patil
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