Orient Technologies share price soars 15% to hit 52-week high on Q2 results

Shares of IT-enabled services provider Orient Technologies soared 15.50 per cent to Rs 449.65 on the NSE during intra-day deals on Tuesday. The northward move in the company’s stock price follows its announcement of financial results for the second quarter of FY25.

 

Orient Technologies, on November 10, after market hours, announced that in the second quarter of FY25, the company’s total income stood at Rs 225.07 crore, up from Rs 149.31 crore in the previous quarter (Q1 FY25), reflecting a growth of 50.74 per cent.  

Orient Technologies’ revenue from operations for the quarter ended September 30, 2024, stood at Rs 223.14 crore, compared to Rs 148.85 crore in Q1 FY25, showing a growth of 49.92 per cent, the company said in a statement.

 

The company’s earnings before interest, tax, depreciation, and amortisation (Core Ebitda) stood at Rs 20.72 crore in Q2 FY25, compared to Rs 13.65 crore in Q1 FY25, marking a growth of 51.76 per cent. The company’s EBITDA margin stood at 9.21 per cent.

 

Orient Technologies’ profit after tax (PAT) came in at Rs 15.06 crore in Q2 FY25, compared to Rs 9.28 crore in Q1 FY25, representing a growth of 62.20 per cent. The company’s PAT margin stood at 6.69 per cent.

 

The company’s earnings per share (EPS) for Q2 FY25 stood at Rs 4.15, up from Rs 2.59 in Q1 FY25, reflecting a growth of 60.25 per cent.

 

Commenting on the results, Ajay Sawant, Chairman & Managing Director, said, "Our revenue and profitability have risen significantly, a testament to the power of our strategic vision and the cohesive efforts of our teams across all business units. As we move into Q3, we have a robust pipeline filled with high-potential opportunities that we are excited to bring to fruition. With a stable market environment, Orient is well-positioned to accelerate its momentum and pursue ambitious growth objectives.

 

"We remain committed to pushing boundaries, unlocking new possibilities for our clients, and driving sustained value for our stakeholders. The journey ahead holds immense promise, and we’re ready to seize it with confidence and purpose," he added.

 

Orient Technologies, incorporated on July 4, 1997, offers a wide range of diversified products and services, with its business classified into three verticals: IT Infrastructure, IT Enabled Services (ITeS), and Cloud and Data Management Services.

 

As of November 12, 2024, the company enjoys a market capitalization of Rs 1,813.08 crore on the NSE.

 

Orient Technologies shares made their market debut on August 28, listing at Rs 290 on the BSE and Rs 288 on the NSE, against an IPO issue price of Rs 206.

 

At around 12:26 p.m. on Tuesday, the company’s shares were trading at Rs 436.45, up 12.11 per cent against the previous close of Rs 389.30 on the NSE. Meanwhile, the benchmark NSE Nifty50 was trading at Rs 24,113.85, down 27.45 points or 0.11 per cent.