8K Miles Software jumps after strong Q1 outcome

8K Miles Software Services surged 12.11% to Rs 1,992 at 12:36 IST on BSE after consolidated net profit rose 56.49% to Rs 19.32 crore on 20.31% rise in total income to Rs 103.89 crore in Q1 June 2016 over Q4 March 2016.

The result was announced during market hours today, 8 July 2016.

Meanwhile, the BSE Sensex was down 65.16 points, or 0.24%, to 27,136.33

On BSE, so far 81,000 shares were traded in the counter, compared with average daily volume of 6,787 shares in the past one quarter. The stock hit a high of Rs 1,995.05 and a low of Rs 1,786.85 so far during the day. The stock had hit a record high of Rs 2,550 on 14 January 2016. The stock hit a 52-week low of Rs 720 on 24 July 2015. The stock had outperformed the market over the past 30 days till 7 July 2016, rising 7.8% compared with 0.67% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, declining 7.99% as against Sensex's 10.24% rise.

The small-cap company has an equity capital of Rs 10.89 crore. Face value per share is Rs 10.

8K Miles Software Services is a global Cloud, Software as a Service (SaaS) and Security Solutions company based in the SanFrancisco Bay area.

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