8K Miles Software slumps on profit taking after strong Q4 results

8K Miles Software Services tumbled 6.47% to Rs 794.50 at 14:54 IST on BSE, with the stock sliding on profit booking after the company reported strong Q4 March 2015 earnings.

The Q4 result was announced during market hours today, 15 April 2015.

Meanwhile, the S&P BSE Sensex was up 18.38 points or 0.06% at 29,062.82.

On BSE, so far 1.03 lakh shares were traded in the counter as against average daily volume of 23,106 shares in the past one quarter.

The stock hit a high of Rs 891 and a low of Rs 740.75 so far during the day. The stock had hit a record high of Rs 923 on 8 January 2015. The stock had hit a 52-week low of Rs 104.35 on 16 April 2014.

The stock had outperformed the market over the past one month till 13 April 2015, surging 22.36% compared with Sensex's 1.9% rise. The scrip had also outperformed the market in past one quarter, jumping 14.51% as against Sensex's 5.9% rise.

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

Shares of 8K Miles Software Services had witnessed a pre-result rally. The stock had galloped 37.73% to settle at Rs 849.50 on Monday, 13 April 2015, from Rs 616.75 on 26 March 2015.

8K Miles Software Services's consolidated net profit rose 16.52% to Rs 6.27 crore on 23.53% growth in revenue to Rs 42.59 crore in Q4 March 2015 over Q3 December 2014. EBITDA (earnings before interest, taxation, depreciation, and amortization) rose 18.71% to Rs 12.84 crore in Q4 March 2015 over Q3 December 2014.

8K Miles Software Services's consolidated net profit rose 212.22% to Rs 18.98 crore on 183.75% growth in revenue to Rs 125.14 crore in the year ended 31 March 2015 (FY 2015) over the year ended 31 March 2014 (FY 2014). EBITDA rose 178.56% to Rs 38.56 crore in FY 2015 over FY 2014.

8K Miles Software Services's Chairman and Managing Director Mr. Suresh Venkatachari said that the company continues to see significant growth in Cloud Security Solutions and Cloud Managed Services. The company's recent launch of CloudEzRx, a cloud-platform designed to answer the compliance and regulatory needs of pharmaceutical/life sciences industry is gaining market awareness while adding more key-functionalities to meet uprising demand by healthcare providers, Venkatachari said.

8K Miles Software Services is a leading global Cloud & Security solutions company.

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