Genex Infosys to provide 360-degree IoT based monitoring and theft protection solutions to Edotco

Genex Infosys Limited has signed an agreement with Edotco Bangladesh Co Ltd to provide the multinational telecom tower company with a 360-degree security solution service.

The board of Genex Infosys has already approved the agreement.

Under the three-year agreement, Genex Infosys will provide 360-degree IoT (Internet of Things) based security solutions such as monitoring and theft protection.

The Genex Infosys management expects to generate approximately Tk24 crore in revenue per year upon the full rollout.

On 27 May this year, the company decided to invest in a new venture of the telecom infrastructure business. Genex Infosys will hold 75% equity in the new venture – Genex Infrastructure Limited.

Now the company is also engaged in call centre service, website development, marketing of software products, and providing maintenance and support services to both domestic and international clients.

The paid-up capital of Genex Infosys, which got listed on local stock exchanges in 2019, is Tk103.22 crore.

In the first nine months of the last fiscal year, the revenue of the company was Tk84.49 crore and profit stood at Tk31.63 crore.

During the period, the consolidated earnings per share stood at Tk3.06, which was Tk3.01 in the same period of the previous year.

In the January-March quarter, the consolidated EPS stood at Tk1.16, which was Tk1.11 in FY20.

Sponsors and directors jointly hold 34.99%, institutions 26.55%, and general investors 38.46% shares of the company.

The last trading share price of the company at the Dhaka Stock Exchange was Tk90.20 on Wednesday.