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2 min read | Updated on August 27, 2024, 16:50 IST
SUMMARY
Datamatics’ shares soared 20% after the company announce that it had partnered with Microsoft to build AI solutions through Copilots. The company has launched a Partner On-Board Copilot that is available on the Microsoft Teams store. Datamatics stated that the copilot integrates Azure OpenAI with Datamatics Intelligent Automation Platform.
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Datamatics locked in 20% upper-circuit after announcing Microsoft partnership to build AI solutions through Copilots
The company has launched a Partner On-Board Copilot that is available on the Microsoft Teams store. Datamatics stated that the copilot integrates Azure OpenAI with Datamatics Intelligent Automation Platform.
The company stated that it accelerates copilot innovation by customising solutions for each organisation with support for Microsoft 365 or by creating custom copilots for each unique client. This allows the company to cater to the unique needs of its customers instead of following a one-size-fits-all approach.
Datamatics announced that it has extended its partnership with Microsoft and has become a beta partner for Microsoft’s private preview Copilot initiatives.
Shashi Bhargava, vice president and head of intelligent automation at Datamatics, said that the company’s suite of Generative AI-powered Intelligent Automation products along with Microsoft’s solution have resulted in new go-to-market solutions and fresh avenues for automation.
“The Partner On-boarding application is just one testament to its capability to fulfill business requirements and customizations to suit changing business scenarios,” he said.
In the first quarter of the fiscal year 2025, Datamatics reported a 21.1% year-on-year decline in its net profit to ₹43.5 crore. The company’s total consolidated income for the quarter grew by 1.9% YoY to ₹407.8 crore.
The earnings before interest, depreciation, and amortisation (EBITDA) for the quarter declined by 24.2% YoY to ₹51.4 crore. The EBITDA margin for the quarter contracted by 429 basis points (bps) YoY to 13% while the net profit margin contracted by 311 bps YoY to 10.7%.
Shares of the company have risen by nearly 41% since the beginning of the year. The stock has gained over 161% in the past year.
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