Shares of Protean eGov Technologies Ltd fell nearly 3% on January 31, trading at ₹1,529.00, down ₹45.50 from the previous close of ₹1,574.50. The stock witnessed a day range between ₹1,525.10 and ₹1,588.70, with a market cap of ₹61.99 billion.
The company’s Q3 FY25 results showed revenue from operations at ₹202 crore, marking a marginal 1% YoY decline. Tax services and pension services grew 3% and 12% YoY, respectively, while identity services and new business segments saw notable declines. Adjusted operating profit stood at ₹21 crore with a margin of 10.3%.
PAT grew 51% YoY to ₹23 crore, boosted by operational improvements and favorable cost structures. The balance sheet remains robust with over ₹750 crore in cash and zero debt.
The company’s stock performance reflects investor concerns over sequential declines in revenue and adjusted operating profit, contributing to today’s drop.
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