IT Sector Penny Stock Recommends Final Dividend, PAT Jumps 716.67% YoY

IT Sector Small Cap company, Vakrangee Ltd. informed the exchange in a meeting that it has recommended a 5% final dividend i.e. Rs 0.05/share of Re 1 each for the financial year 2022-23.

The company delivered a robust quarter, total income stood at Rs. 55.90 Crore in Q1 FY2023-24, increased by 14.74% on YoY basis. EBITDA stood at Rs. 6.93 crore in Q1 FY2023-24, increased by 56.08% on YoY basis. PAT stood at Rs. 0.49 crore in Q1 FY2023-24, increased by 716.67% on YoY basis.

Dividend

"Recommended final dividend of Rs. 0.05/-(5%) per equity shares of Re. 1/-each for the financial year ended March 31, 2023, subject to the members' approval at the ensuing Annual General Meeting," the company said in an exchange filing.

Stock Outlook

On Friday, the stock of Vakrangee closed 2.65% higher at Rs 16.67 apiece on BSE. It jumped 1.09% in the past 1 week, while 2.14% in the past 2 weeks. It jumped 5.64% in the past 3 months. It has fallen 39.78% in the past 1 year, 54.08% in 2 years, 40.68% in 3 years and 66.12% in 5 years, respectively.
The stock hit its 52-week high on Sep 13, 2022, at Rs 42.55 apiece and 52-week low on Mar 29, 2023, at Rs 13.70 apiece, respectively. It has a market capitalisation of Rs 1,766.21 Crore.

About - Vakrangee Ltd.

Incorporated in 1990, Vakrangee Ltd. is a technology-driven company centred around building India's largest network of last-mile retail outlets to deliver services to the unserved and underserved rural, semi-urban and urban population of the country. The company offer an extensive array of services across various sectors by providing BFSI, ATM, E-Commerce & Logistics Services.

Disclaimer

The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.