The company said that it has reported a net profit of Rs 1.33 crore in H1FY24 as against a net loss of Rs 54 lakh in the year-ag0 period.
Stock Market News: Yudiz Solutions, an IT development company, stocks jumped around 2.50 per cent today after the company reported 45 per cent growth on the revenue front.
The opened at Rs 150.10 and touched an intraday high of Rs 155.90. The company said that it has reported a net profit of Rs 1.33 crore in H1FY24 as against a net loss of Rs 54 lakh in the year-ag0 period.
The blockchain and IT development company said that its Revenue from operations in the same period increased by over 45 per cent to Rs 15.87 crore. It added that total expenses increased 18 per cent on yearly basis to Rs 13.95 crore in the six-month period.
Its board also authorised the appointment of Pranita Singh & Associates as the company’s new internal auditor for FY24.
Earlier in August this year, Yudiz went public on the NSE SME platform. At Rs 185 a share, the company’s shares were listed at a 12 per cent premium over the issue price.
Recently, telecom operator Vodafone India (Vi) and Yudiz Solutions partnered to launch a VR combat shooting game in India. The combat shooting game serves as a thrilling showcase of 5G and Virtual Reality’s immense potential in the gaming world.
“With our commitment to creating innovative and immersive VR games, Yudiz is at the forefront of synergising trending technologies. It is crafting experiences that blend realism and innovation, ensuring that users get the very best solutions and stay at the cutting edge of gaming technology,” the company said in a release.
Yudiz Solutions was incorporated in 2011. It is based out of Ahmedabad. The company, which listed on the NSE SME platform in August this year, is an specialises in web and mobile app development. It also provides services in areas of emerging technologies such as AR/VR, AI/ML, blockchain, and IoT.