Digispice Technologies tanks 7% as CEO Chandrachur Ghosh resigns

Chandrachur Ghosh will be serving his notice period till January 31, 2023, the company said

Digispice Technologies' shares cracked 7.4 per cent to Rs 26.75 on the BSE in the intra-day trade on Friday after the company said its chief executive officer (CEO), Chandrachur Ghosh, has tendered his resignation.

"This is to inform you that Chandrachur Ghosh, chief executive officer, designated as Whole Time Key Managerial Personnel of the company, has tendered his resignation from the said position on December 8, 2022," the company said in an exchange filing. Ghosh, the company said, will be serving his notice period till January 31, 2023. READ HERE

At 11:42 AM, shares of the company were trading 6.4 per cent lower at Rs 27 as against 0.3 per cent dip in the benchmark S&P BSE Sensex. So far in the currenct calendar year, shares of the company have crashed 39.6 per cent as against 7 per cent gain in the Sensex index. 

Digispice Technologies is a IT-enabled company, leveraging its core capabilities in engineering, analytics and automation, and enabling customers to easily reinvent products, operations and business models. With extensive experience in telecom (Spice Telecom), IT , content, fintech and mobile ecosystems for government services, Digispice has catered to a diverse set of customer needs, whilst keeping pace with the rapid evolutions in the tech industry.

Shares of the company trade under 'B' category and has a T+1 settlement cycle. 

Digispice Tech reported a consolidated revenue of Rs 257 crore in the September quarter, up 18 per cent year-on-year (YoY) from Rs 237 crore logged in Q2FY22. Gross margin also improved marginallyto 46 per cent vs 43 per cent YoY.