TAKE Solutions standalone Q1 net surges to Rs 22.16 Cr

: Supply chain management and life sciences service provider TAKE Solutions Ltd has recorded over 400 per cent rise in its standalone net profits for the April-June quarter, to Rs 22.16 crore.

The city-based firm had clocked standalone net profits of Rs 3.76 crore in the corresponding quarter of the previous year.

For the full year ending March 31, 2018 standalone net profits was Rs 15.25 crore,TAKE Solutions said in a statement.

The standalone total income for the quarter ending June 30, 2018 surged to Rs 26.76 crore from Rs 7.17 crore registered in the same quarter of the last fiscal.

For the year ending March 31, 2018 standalone total income registered was at Rs 35.24 crore.

Commenting on the financial performance, company Vice Chairman and Managing Director Srinivasan H R said, "we have started the new fiscal year on a very strong note. Our life sciences business continues to be our growth engine this quarter, while other verticals maintained momentum".

"With a good set of wins during the quarter,a robust deal in pipeline and investments in research and innovation in the Life Science industry, we are well positioned for the future to be a half a million-dollar enterprise by 2021", he said.

During the quarter,the company said it closed a 'landmark renewal contract' with a large pharmaceuticals firm for regulatory outsourcing services.

Shares of the company almost remained flat and ended at Rs 209.60 apiece in the BSE.