Sasken Technologies surges 13% on strong Q2 results

The stock trading at its 52-week high has outperformed the market by gaining 29% in past two months against 3% rise in the S&P BSE Sensex.

Sasken Technologies surged 13% to Rs 595 on the BSE after the company reported a strong 55% year-on-year jump in its consolidated net profit at Rs 18.77 crore in September 2017 quarter (Q2FY18). The company had profit of Rs 12.12 crore in the same quarter year ago (Q2FY17).

Revenue from operations grew 6% at Rs 125 crore against Rs 118 crore in the corresponding quarter of previous fiscal. On sequential basis, net profit and operational revenues increased by 8.5% and 6.2%, respectively.

EBITDA (earnings before interest, tax, depreciation and amortization) margins improved to 15% in Q2FY18 from 9.2%