8K Miles Software Services hits record high after strong Q2 earnings

8K Miles Software Services was locked at 5% upper circuit at Rs 570.60 at 13:04 IST on BSE after consolidated net profit jumped 31.84% to Rs 4.14 crore on 29.01% growth in total income to Rs 27.08 crore in Q2 September 2014 over Q1 June 2014.

The Q2 result was announced after market hours on Wednesday, 8 October 2014.

Meanwhile, the S&P BSE Sensex was up 297.87 points or 1.13% at 26,544.66.

On BSE, so far 20,000 shares were traded in the counter as against average daily volume of 49,453 shares in the past one quarter.

The stock's current price of Rs 570.60 is also its record high for the counter. The stock hit a low of Rs 555 so far during the day. The stock had hit a 52-week low of Rs 66 on 18 November 2013.

The stock had outperformed the market over the past one month till 8 October 2014, surging 65.08% as compared to the Sensex's 3.93% fall. The scrip had also outperformed the market in the past one quarter, galloping 212.42% as compared to the Sensex's 2.6% rise.

The small-cap company has equity capital of Rs 10.04 crore. Face value per share is Rs 10.

8K Miles Software Services offers cloud consulting, engineering and migration services to help companies leverage the power of cloud computing.

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