The IT sector goes by means of immense strain resulting from spending cuts amid recession fears. This yr noticed US tech firms shedding folks. Even because the downtrend has impacted Indian IT firms as effectively, the expertise sector has proven resilience and delivering strong outcomes.Â
Indian IT firms like TCS, Infosys, and HCL Tech posted good numbers within the second quarter on the revenue entrance. But they’ve slashed the steering, elevating issues in regards to the future development. Amid this, Ahmedabad-based IT firm Sahana Systems has reported a strong efficiency within the quarter.
The income from operations stood at Rs 24.12 crore, which is up 236 per cent on year-on-year. The operational revenue got here in at Rs 7.19 crore throughout the identical interval.
The IPO of Sahana Systems had hit the market in May this yr. The SME IPO of the IT options supplier is among the top-performing public points this yr.
The stock is listed on the NSE Emerge platform. According to trade information, the stock is listed at a premium of 20 per cent at Rs 163 towards the difficulty value of Rs 135. The IPO has prolonged its positive factors since itemizing and delivered multibagger returns to its shareholders. On Friday, the stock closed at Rs 349.35.
NSE Emerge is an initiative by the National Stock Exchange for small and medium-sized enterprises and startup firms within the nation.
Ahmedabad-based IT agency gives new-age pc and communication providers like internet and cell app improvement, synthetic intelligence and machine studying improvement, ChatBot, and others.Â
According to a PTI report that cited Industry foyer Nasscom, the IT sector straight employs over 50 lakh folks within the nation, and it was essential for the post-pandemic restoration of the financial system due to the spectacular development within the sector as demand for expertise inputs grew.
