Infinite Computer plunges over 30% in two days on weak Q4 results
The stock dipped 18% to Rs 173, extending Friday's 20% decline on the NSE.
 "Infinite Computer plunges over 30% in two days on weak Q4 results")
Infinite Computer Solutions (India) dipped 18% to Rs 173, extending Friday’s 20% decline on the NSE, after the company reported a sharp 78.9% quarter on quarter (QoQ) decline in its consolidated net profit at Rs 10.20 crore for the fourth quarter ended March 2015 (Q4).
The company had posted a profit of Rs 48.43 crore in the December 2014 quarter.
Net revenues declined by 12.7% at Rs 425 crore on a Q-o-Q basis. EBITDA or operating profit fell 67% to Rs 24.1 crore on sequentially, Infinite Computer said in a statement.
Meanwhile, the information technology (IT) consulting & software company said that net profit for the financial year 2015-16 (FY16) is expected to be flat. The revenue growth is projected at 5%-10%.
The stock opened at Rs 172 and hit a low of Rs 169 on the NSE so far. A combined 2.78 million shares changed hands on the counter on the NSE and BSE till 1515 hours.
The company had posted a profit of Rs 48.43 crore in the December 2014 quarter.
Net revenues declined by 12.7% at Rs 425 crore on a Q-o-Q basis. EBITDA or operating profit fell 67% to Rs 24.1 crore on sequentially, Infinite Computer said in a statement.
Meanwhile, the information technology (IT) consulting & software company said that net profit for the financial year 2015-16 (FY16) is expected to be flat. The revenue growth is projected at 5%-10%.
The stock opened at Rs 172 and hit a low of Rs 169 on the NSE so far. A combined 2.78 million shares changed hands on the counter on the NSE and BSE till 1515 hours.