Shares of Alankit Ltd rallied 7% on 2 July after the company announced securing a work order worth Rs 23 crore from Samagra Shiksha, Dehradun. 

In its regulatory filing, the company said that the order is to onboard 955 teachers across 13 districts of Uttarakhand, aiming to enhance the education quality and streamline teachers’ recruitment process in Uttarakhand. 

The company has also announced the inauguration of its new office space in Dehradun, which will serve as the operational hub to facilitate smooth coordination and efficient project management. 

In its quarterly earnings for January-March, the company reported a 15% year-on-year increase in net profit to Rs 6.47 crore from Rs 5.6 crore reported in the same quarter last year. However, its revenue from operations during the quarter slumped by 38% YoY to Rs 91.16 crore from Rs 148.18 crore reported in Q4FY23. 

The company is in the business of delivering e-governance solutions to many individuals around the country through its strong system that spans across more than 673 metropolitan communities and 10,000 commercial sectors. 

At 3:30 pm, the shares of Alankit closed 0.89% higher at Rs 23.90 on NSE.