During Wednesday’s trading session, the shares of a company primarily engaged in the business of SAP Support Services surged by nearly 4 percent to Rs. 22.9 on NSE, after the company announced receiving an international order from Amdocs Development Limited.
With a market cap of Rs. 55.5 crores, at 02:39 p.m., the shares of Adroit Infotech Limited were trading in the green at Rs. 22.4, up by nearly 1.6 percent, compared to its previous closing price of Rs. 22.04.
What’s the news:
Verso Altima India Private Limited, a subsidiary of Adroit Infotech, received an order worth Rs. 1.14 crores (or $134915) from Amdocs Development Limited.
According to the recent regulatory filings with the stock exchanges, the scope of the work order includes Functional and Technical support for the SAP–BRIM application, as well as comprehensive onsite/offshore support for one year.
Financials:
For Q2 FY25, Adroit Infotech reported consolidated revenue from operations of Rs. 7.07 crores, reflecting a marginal growth of around 7 percent QoQ from Rs. 6.6 crores in Q1 FY25, as well as a significant increase of about 71 percent YoY from Rs. 4.14 crores in Q2 FY24.
The company’s net profit for Q2 FY25 grew to a profit of Rs. 0.45 crores, marking a substantial turnaround from a loss of Rs. 0.72 crores in Q2 FY24, but a quarter-on-quarter marginal decline of nearly 8.2 percent from Rs. 0.5 crores in Q1 FY25.
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Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 39.07 percent stake in the company, while Retail Investors hold a 60.94 percent stake in Adroit Infotech.
Stock Performance:
The stock has delivered positive returns of nearly 52 percent in one year, as well as around 8.7 percent returns in the last six months. So far in 2024, the shares of Adroit Infotech have given positive returns of about 32.6 percent.
About the company:
Incorporated in 1990, Adroit Infotech Limited is primarily engaged in the business of SAP Support Services helping organisations to reduce costs and improve effectiveness and efficiency through internal process improvements using SAP products and solutions.
Written by Shivani Singh
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