Small Cap IT Software Stock Declares 14% Jump In Net, Shares Trade New 52-Week High

Small cap IT software sector stock, Birlasoft on July 27 reported 14% YoY (Year-on-Year) jump in its net profit to Rs 137.5 crore for the quarter ended June 30, 2023 as against Rs 120 crore declared in the corresponding period of preceding fiscal, according to its BSE filing. Soon after the result, Birlasoft shares traded new 52-week high on BSE. Current market price of Birlasoft stock is Rs 413.05 per share. In last 3-months, Birlasoft shares delivered already 51% return to shareholders. Check details below:

Birlasoft Q1 Result: The company declared its revenue from operations at Rs 1263 crore in Q1 FY 2023, up 9% from Rs 1154 crore, stated the BSE filing. Sequentially, Birlasoft reported a 23% surge in net profit in the period under consideration as against Rs 112 crore in the March quarter.

Angan Guha, Chief Executive Officer and Managing Director of Birlasoft said, "I am pleased to note that our quarterly revenue has crossed the USD 150 million mark for the first time, increasing 3.1 per cent sequentially to USD 153.6 million during Q1FY24."

Birlasoft Stock Performance & Return: Current market price of Birlasoft on BSE is Rs 413.05 per share with intraday gain of 2.72%. The stock hit its new 52-week high today after good performance in quarter 1. Its 52-week high price is Rs 424.80 per share and 52-week low price is Rs 250.35 per share, respectively. Its market capitalisation is Rs 11,374.65 crore. Birlasoft shares rallied 39% YTD, gave 25% return in last 1-year, and surged 250% in last 3-years.

Birlasoft Dividend: The company recommended final dividend of Rs. 2/- per equity share of face value of Rs. 2/- each (100%), for the financial year 2022-23, subject to declaration of the same by the members at the ensuing Annual General Meeting ("AGM") of the Company. The date of AGM shall be intimated in due course, and the dividend, if declared by the members, will be paid within the statutory timelines."

The company fixed July 14 as the record date for dividend.

Birlasoft About: Birlasoft is a multi-shore business application global IT services provider with a presence in the United States, Europe, Asia-Pacific and India. It operates development centres in the United States, China, Poland and India. Birlasoft counts Fortune 100 enterprises across manufacturing, banking & financial services, insurance, media and healthcare industries as clients, according to its official website.