Multibagger stock: Mauritius-based FII buys stake in IT stock Dev Information Technology

Multibagger stock: Dev Information Technology Ltd has seen Mauritius-based Foreign Portfolio investor Saint Capital Fund buying stake in it . The FPI stake was reflected in the shareholding data at the end of September quarter

The data showed Saint Capital Fund owning 250000 shares in Dev Information Technology . The same represents Saint Capital Fund owning 1.11% of the stake in Dev Information Technology.

The Dev Information Technology share price had hit 52 week highs or 1 year high of ₹177.40 on 14 November 2024. Dev Information Technology share price stand at ₹160.50 level on the BSE now, Dev Information Technology share price stand at ₹160.50 level. share price having risen 155% since 22 February 2022 has given Multibagger returns to Investors

A global IT services company providing Cloud Services, Digital Transformation, Enterprise Applications, and Managed IT Services, with products like Talligence and ByteSigner, i.e Dev Information and Technology has reported Q2 result performance recently.

Q2 Results

Dev IT Q2 FY25 net profit had risen by 390% to ₹8.1 Crore, a significant Growth from ₹1.65 core in the year ago quarter. The Total Revenues for Dev Information technology in the July September 2024 quarter had risen 69.26% to ₹48.24 crore compared to ₹28.50 crore in the year ago quarter at the consolidate level. Earnings Before interest tax depreciation and amortisation (Ebitda) at ₹11.23 crore also rose 329.64 % from 2.61 crre in the year ago quarter.

Pranav Pandya Founder & Chairman, commnting on results said that the impressive increase in our Ebitda and Net profit reflects our operational efficiency and strategic growth across multiple service lines.

The prestigious orders during Q2 included Kaushal Darpan Order from RajCOMP for portal integration across 140 Polytechnics and 1500 ITIs, 2–3-year term.

Dev It also received RAJKISAN SATHI Order from RajCOMP for RAJKISAN SATHI Portal maintenance and 13+ apps. 1–2-year term.

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