Quicktouch Technologies recently disclosed a remarkable achievement in its financial performance, revealing a notable 146.77% surge in net profit to Rs 1.53 crore in the quarter ending June 2024 compared to Rs 0.62 crore in the corresponding period of the previous year. Additionally, the company witnessed a substantial 266.43% increase in sales, reaching Rs 41.70 crore in the quarter under review compared to Rs 11.38 crore in the previous year.
In a statement, Gaurav Jindal, the Managing Director of Quicktouch Technologies, expressed his satisfaction with the company's performance, highlighting that they exceeded all set targets by achieving a profit that nearly tripled the profit from the same quarter the previous year. This success is attributed to the company's robust market position and effective growth strategies implemented to drive performance.
Furthermore, Quicktouch Technologies announced its board's approval for the acquisition of Pinnacle Exim IT Solutions LLC, based in the UAE, a company engaged in various sectors including Software Applications Development & Management. This strategic move aligns with Quicktouch's vision of strengthening its position in technology and digital services by leveraging Pinnacle's expertise and resources to expand its service offerings and provide greater value to clients worldwide, according to Jindal. Additionally, the company revealed plans to raise Rs 50 crore through a preferential issue of equity shares priced at Rs 144 each to support its growth initiatives.
As part of its brand update, Quicktouch Technologies introduced a new logo that embodies innovation, growth, and commitment to excellence. The modern and sleek design of the logo symbolizes the company's forward-thinking approach and dedication to providing cutting-edge solutions to its global clientele, as stated in the company's official communication.