Share price variations:With a market capitalization of Rs. 155.33 crores, Scanpoint Geomatics Ltd shares touched the 5% upper circuit of Rs. 9.24 from Friday’s close of Rs. 8.80 per share.
Reason for Rise:As per the exchange filings, Scanpoint Geomatics Ltd has been shortlisted for a project from Indian Armed Forces under the Make In India and Indian Design Development and Manufacturing initiatives. This project aims to promote indigenous design, development, and manufacturing capabilities for the armed forces.
Financial Performance:For Q1FY25 the company reported a net profit increase of 104% to Rs. 0.47 crores compared to net profit of Rs. 0.23 crores in Q1FY24, while revenue from operations increased by 417% to Rs. 17.75 crores from Rs. 3.43 crores in comparison to the same period.
The stock has delivered nearly 83% return over the past six months and a multibagger return of 114% on a year to date basis.
About the company:Incorporated in 1992, Scanpoint Geomatics Ltd is engaged in the design and development of Indigenous Geospatial software known as IGiS (Integrated GIS and Image Processing Software) in joint development partnership with SAC-ISRO. The company also plans to include the business of coal, solar projects and EPC contracting.
