After 3 Months of Listing Yudiz Posts 45% Revenue Growth On Strong Profitability

Yudiz, an IT development company with ISO 9001:2015 certification and a stellar reputation for digital transformation and technology services, has released its financial results. Yudiz Solutions announced a 1.33 Cr net profit during the first half (H1) of the 2023-24 fiscal year (FY24). During the same quarter of the previous fiscal year, the firm had a net loss of INR 54 Lakh. Revenue from operations increased by over 45% from INR 10.91 Cr in H1 FY23 to INR 15.87 Cr in H1 FY24.

Total expenses surged 18% to INR 13.95 Cr in the half-year ended September 2023. In H1 FY23, its total expenses came to INR 11.82 Cr. When other income is taken into account, total income climbed 47% to INR 16.18 Cr in H1 FY24 compared to INR 10.97 Cr in the same period the previous fiscal year.

The Yudiz board of directors also authorised the appointment of Pranita Singh & Associates as the company's new internal auditor for FY24 at its meeting on November 9. This appointment is effective immediately. On August 17 of this year, Yudiz went public on the NSE SME platform. At INR 185 a share, the company's shares were listed at a 12% premium over the issue price.

"The company had made an initial public offering (IPO) of 27,17,600 equity shares of face value of Rs. 10/- each fully paid up at a price of Rs. 163/ equity share (including:share premium of Rs. 155/- per equity share) aggregating to 24,484.04/- Lakhs. The aforementioned equity shares were of company got listed on NSE Emerge Platform on 17th August, 2023," said Yudiz Solutions in a stock exchange filing.

On Friday, the shares of Yudiz Solutions were trading at Rs 152 apiece.