This small-cap extends Rs 26 crore contract with United Nations; do you own it?
The contract will extended and will now expire on December 31, 2023.
On Thursday, the shares of Trigyn Technologies Limited surged by 16.70 per cent, to trade at an intraday high of Rs 114.20 per share on BSE.
Earlier, the company reported that the United Nations has renewed its contract with its wholly-owned subsidiary through the end of the current fiscal year in 2023.
The contract between Trigyn Technologies Inc. and the United Nations has been extended and will now expire on December 31, 2023.
On June 8, 2023, Trigyn announced the existence of a contract for the supply of IT Staffing Support Services for the Office of Information and Communications Technology (OICT). According to the contract specifications, the United Nations will make a Not-To-Exceed Amount (NTE) of Rs 25.9 crore, which has been updated.
The key highlights for FY23:
1) Total sales of Rs 1,273 crore, zoomed by 22.28 per cent on YoY basis over FY22.
2) The EBIDTA level stood at Rs 69.1 crore, witnessing a dip of 6.15 per cent on YoY basis as compared to FY22.
3) PAT recorded at Rs 35 crore, down by 10.25 per cent on YoY basis from FY22.
Trigyn Technologies Limited is an IT firm that provides IT solutions and services to clients all over the world. Trigyn's global operations provide end-to-end quality and cost-effective solutions and services.
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The stock has gained momentum in the past 6 months as it has given more than 8 per cent returns. Investors must keep close eye on this small-cap IT – Software stock.