Sasken Communication Technologies has surged 6% to Rs 208 after its board declared a special dividend of Rs 22.50 per share (225%), in celebration of its 25th year since incorporation.
This is in addition to the special dividend of Rs 2.50 per share declared in October 2013, thus taking the total special dividend to Rs 25 per equity share of Rs 10 each (250%), Sasken Communication Technologies said in a BSE filing.
Meanwhile, IT consulting and software company has reported 19.2% quarter-on-quarter decline in consolidated net profit at Rs 11.12 crore for the third quarter ended December 2013, mainly due to lower other income. The operating profit margin however, improved substantially by nearly 400bp to 12% on sequential basis.
The stock opened at Rs 207 and touched a high of Rs 212, also its 52-week high on the BSE. A combined around 360,000 shares changed hands on the counter on the BSE and NSE till 0935 hours.
This is in addition to the special dividend of Rs 2.50 per share declared in October 2013, thus taking the total special dividend to Rs 25 per equity share of Rs 10 each (250%), Sasken Communication Technologies said in a BSE filing.
Meanwhile, IT consulting and software company has reported 19.2% quarter-on-quarter decline in consolidated net profit at Rs 11.12 crore for the third quarter ended December 2013, mainly due to lower other income. The operating profit margin however, improved substantially by nearly 400bp to 12% on sequential basis.
The stock opened at Rs 207 and touched a high of Rs 212, also its 52-week high on the BSE. A combined around 360,000 shares changed hands on the counter on the BSE and NSE till 0935 hours.
