 "Updater Services share skyrockets 12% after solid Q3 show; profit up 52%")
Updater Services share price gained 12 per cent at Rs 360 a piece on the BSE in Tuesday’s intraday trade after the company delivered a solid financial performance in the third quarter of financial year 2024-25 (Q3FY25).
The company reported a 9 per cent year-on-year (Y-o-Y) increase in total revenue to Rs 700.6 crore, compared to Rs 645.4 crore in Q3 FY24. The growth was driven by strong contributions from both its IFM and BSS segments.
Revenue from Infrastructure Facility Management (IFM) surged 9 per cent Y-o-Y to Rs 455.4 crore, accounting for 65 per cent of total revenue, while the Business Support Services (BSS) segment grew 7 per cent Y-o-Y to Rs 245.1 crore, maintaining its 35 per cent share of overall revenue.
The company’s Ebitda rose 18 per cent Y-o-Y to Rs 51.9 crore, with margins improving from 6.8 per cent to 7.4 per cent. Profit after tax (PAT) saw a significant jump of 52 per cent Y-o-Y, reaching Rs 31.2 crore, compared to Rs 20.5 crore in Q3 FY24. The Earnings Per Share (EPS) also surged 48 per cent, rising from Rs 3.12 to Rs 4.61.
On the equities front, Updater Services share price has outperformed the market in the last six months, rising 6 per cent, while losing 1.7 per cent in the last one year. In comparison, the BSE Sensex has slipped 6.8 per cent in the last six months, while rising 7.1 per cent in the last one year.
Updater Services has a total market capitalisation of Rs 2,270.55 crore. Its shares are listed at a price to earnings multiple of 39.76 and at an earning per share of Rs 8.53.
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At 1:17 PM, the stock price of the company surged by 6.68 per cent at Rs 339.40 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.86 per cent to 76,015.50 level.
Updater Services is a business services company in India, specialising in facilities management and various support services. Updater Services is the second-largest facilities management company in the country.
The company offers a diverse range of services, including engineering services, production support, soft services, warehouse management, general staffing, institutional catering, technology solutions, and procurement services.