ITI gallops after provisional turnover jumps

ITI rose 5.82% to Rs 103.60 at 11:19 IST on BSE after the company said its provisional and unaudited turnover jumped 20% to Rs 2051.59 crore in the year ended March 2019 over the year ended March 2018.

The announcement was made after trading hours yesterday, 8 April 2019.

Meanwhile, the S&P BSE Sensex was down 14.96 points, or 0.04% to 38,685.57.

On the BSE, 4.53 lakh shares were traded in the counter so far compared with average daily volumes of 1.77 lakh shares in the past two weeks. The stock had hit a high of Rs 106.85 and a low of Rs 101 so far during the day. The stock hit a 52-week high of Rs 137.90 on 12 April 2018. The stock hit a 52-week low of Rs 69.40 on 9 October 2018.

ITI said it achieved a turnover of Rs 2051.59 crore (provisional and unaudited) during the financial year 2018-2019, showing a double digit growth, an increase of 20% over the previous year's turnover of Rs 1703 crore.

On a consolidated basis, net profit of ITI declined 82.19% to Rs 13.58 crore on 124.42% rise in net sales to Rs 563.23 crore in Q3 December 2018 over Q3 December 2017.

ITI makes a diverse range of information and communication technology (ICT) products/solutions.

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