This small-cap IT stock has delivered multibagger returns of 300 per cent in just a year!

Shares of this company have consistently been in the upper circuit generating gains of more than 300 per cent in a single year.

GSS Infotech is an Information Technology (IT) company which provides solutions to small, medium and large businesses including telecom, cloud, healthcare and government. The company earns most of its revenue from the United States which accounts for 92 per cent of the total revenue. The company has offerings range from software services to managed infra and IT solutions such as mobility, security, data centre optimization, cloud computing, virtualization and collaboration. The company has its headquarters in Hyderabad with offices in Connecticut and New Jersey.  

The majority of the revenue of IT companies comes from US and European markets. However, the global economy has taken a downturn due to various macroeconomic factors and frequent interest rate hikes to control inflation. This has largely affected IT companies since most of their earnings come from international clients. However, Small-Cap companies like GSS Infotech have outperformed the markets by delivering extraordinary returns even during the economic slowdown. 

The shares of multibagger GSS Infotech Ltd have zoomed more than 25 per cent in a month while bagging approximately 10 per cent since its last five trading sessions as it announced its financial results for the second quarter and a half year that ended on September 30, 2022. The stock recently touched its 52-week high of Rs 343.65 after it announced its Quarterly Results. 

GSS Infotech reported consolidated operating revenue of Rs 31.41 crore with flat growth of 0.9 per cent on a YoY basis against Rs 31.12 crore from the previous year’s same. However, Profit after Tax (PAT) jumped 319 per cent to Rs 6.00 crore from Rs 1.43 crore in Q2FY22. The company reported an EPS of Rs 3.55 from Rs 0.84 for Q2FY23.