DEV IT rises after bagging cybersecurity contracts from USA-based enterprise

Dev Information Technology (DEV IT) gained 2.01% to Rs 152.50 after the company announced that it has announced secured two significant cybersecurity orders from an existing USA-based enterprise client.

These contracts will contribute an annual revenue of USD 250,000 (approximayely Rs 2 crore) to the company.

The company would provide compliance guidance service and 24x7 managed SOC service to the said client.

Pranav Pandya, founder & chairman (DEV IT), said: "Securing these contracts reaffirms the trust our clients place in us. Our ability to adapt, innovate, and provide world class cybersecurity services has positioned us as a preferred partner. We are excited about the opportunities this unlocks for the future.

Dev Information Technology is a technology solution provider helping companies in their digital transformation from advisory to execution backed by expert applications and infrastructure management.

The company's consolidated net profit surged 411.6% to Rs 8.39 crore on 28.6% rise in revenue from operations to Rs 35.94 crore in Q2 FY24 over Q2 FY23.

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