Virtual Galaxy Infotech rises after signing MoU with Xangars Infratech

Virtual Galaxy Infotech advanced 1.72% to Rs 189.75 after the company entered into a memorandum of understanding (MoU) with Xangars Infratech Solutions for deployment of 1 lakh UPI and QR-based sound boxes with digital payment solutions in India.

The MoU provides for the rollout of 100,000 sound boxes over a period of three years from the date of signing, with expected revenue of about Rs 69 crore plus applicable taxes.

Virtual Galaxy Infotech is an IT services and consulting firm based in Nagpur, Maharashtra, India.

The company recorded revenue from operations of Rs 63.50 crore and a net profit of Rs 16.54 crore for the period ended 31 March 2024.

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