Thursday, July 25, 2024

Dev Information Technology announces excellent earnings for Q4 & FY23, Q4 revenue up 40% YoY

Dev Information Technology Ltd. (BSE: 543462, NSE: DEVIT), an end-to-end technology solutions provider delivering digital transformation leveraging cloud, automation and data technologies has announced Excellent Results for Quarter and year ended 31 March 2023.

Key performance highlights (Q4FY23 vs Q4FY22 vs Q3FY23) (Consolidated)

– Revenue stood at 442.6 mn up 40% YoY and 62% QoQ

– EBITDA stood at 48.5 mn up 218% YoY and turns profitable QoQ (Q3 was loss)

– EBITDA Margin stood at 11% up 613 bps YoY

– Net Profit stood at 36 mn vs 1.6 mn last year Q4 and vs 16.6 mn in Q3 (QoQ)

– PAT Margin stood at 8.1% vs 0.50% last year in Q4

– EPS stood at 1.62 vs 0.07 Q4FY22 and 1.20 in Q3 (QoQ)

Key performance highlights (FY23 vs FY22) (Consolidated)

– Revenue stood at 1241.5 Mn up 24.37% YoY

– Net Profit stood at Rs. 90.20 Mn (turned profitable YoY)

– EPS Stood at Rs. 4.06 vs (0.03) 

The Board of Directors recommended the final Dividend @5%, which it has been consecutively doing since last 4 years. 

Recently, it secured a order from Gujarat Informatics Limited from the ‘Department of Science and Technology Gujarat’ for Relational Database Management System Software (RDBMS) platform used in the digital portal for providing various services. The order is worth approx. 34 crore and will be executed in 2 months.

Dev Information Technology Limited is a publicly listed company that provides end-to-end software solutions using Cloud, Automation, and Data Technologies. The company was founded in 1997 with a small-scale setup mainly engaged in business automation software development. Today, Dev Information Technology Limited works together with its clients across the globe to empower their business with the right mix of information technology, innovation and digital transformation. 

The company is trusted today as one of the leading IT enabled services-provider, having a remarkable track record of consistently delivering workable and robust solutions. The company continues to innovate and remains committed to quality.

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