“Sahana System’s Resilience in the Stock Market Amid IT Sector Challenges”

In the midst of recent stock market turmoil that has particularly affected IT and banking stocks, Sahana System, an IT company, has shown remarkable resilience by consistently moving upward in the last three consecutive trading sessions. After hitting the upper circuit in the previous two sessions, Sahana System’s IT stock once again started the day with a positive gap and went on to reach a new peak of ₹332.75 per share on the NSE during Thursday’s trading.

The bullish trend in Sahana System’s IT stock can be attributed to the positive announcement of their Q2 2023 results. Additionally, the company also disclosed its financial results for the first half of the fiscal year 2023-24.

One of the standout achievements in H-1FY24 for Sahana System is its remarkable revenue growth. The company’s revenue from operations surged from ₹7.2 crores during the April to September 2022 period to an impressive ₹22.13 crores in the first half of the current fiscal year. This nearly threefold increase underscores Sahana System’s effectiveness in expanding its market presence and satisfying the demands of prominent clients, including names such as NERD CAP, ICAI Surat, Indusind Bank, Tata Group, Panasonic, and more.

From a financial perspective, Sahana System’s profitability is equally impressive. The company reported a profit before tax of ₹5.3 crores, a significant leap from the previous year’s ₹1.8 crores during the same period. This not only indicates the company’s revenue growth but also its efficient cost management, resulting in improved operating profit margins.

Throughout the first half of the current financial year, Sahana System not only acquired new business but also diversified its services effectively. With a strong focus on software development, cybersecurity, and digital marketing, Sahana System has demonstrated its adaptability in meeting the ever-evolving demands of the tech industry.

It’s important to note that Sahana System is listed exclusively on the NSE for trading. The company boasts a market capitalization of ₹26,608 crore, with a current trading volume of 54,000 shares. This classifies it as a low-float IT stock, subject to potential fluctuations based on specific triggers. Its 52-week high stands at ₹332.75, while its 52-week low is ₹136.05 per share.