Sasken Comm off 8.1% in two days after poor Q3 earnings

Sasken Communication Technologies fell 3.31% to Rs 235 at 13:48 IST on BSE, with the stock extending Tuesday's slide triggered by the company reporting weak Q3 earnings.

Meanwhile, the S&P BSE Sensex was up 96.42 points or 0.33% at 28,881.09.

On BSE, so far shares were traded in the counter as against average daily volume of 26,935 shares in the past one quarter.

The stock hit a high of Rs 244 and a low of Rs 235 so far during the day. The stock had hit a 52-week low of Rs 156.30 on 14 February 2014. The stock had hit a 52-week high of Rs 353 on 10 September 2014.

The stock had underperformed the market over the past one month till 20 January 2015, advancing 4.9% compared with Sensex's 5.16% rise. The scrip had also underperformed the market in past one quarter, declining 2.41% as against Sensex's 8.91% rise.

The small-cap firm has equity capital of Rs 21.34 crore. Face value per share is Rs 10.

Shares of Sasken Communication Technologies (Sasken) have fallen 8.13% in two trading sessions from Rs 255.80 on 19 January 2015, after the company after market hours on 19 January 2015 reported weak Q3 December 2014 earnings. The stock had fallen 4.98% to settle at Rs 243.05 yesterday, 20 January 2015.

Sasken's consolidated net profit fell 82.5% to Rs 16.14 crore on 0.8% decline in revenues to Rs 107.28 crore in Q3 December 2014 over Q2 September 2014. Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 35.5% to Rs 6.32 crore in Q3 December 2014 over Q2 September 2014. Software services revenues fell 0.1% to Rs 104.03 crore in Q3 December 2014 over Q2 September 2014.

Sasken provides Engineering R&D and Productized IT services to global tier 1 customers in the Communications & Devices, Retail, Insurance and Independent Software space.

Powered by Capital Market - Live News