Sasken Communication Technologies rose 1.67% to Rs 253.20 at 9:55 IST on BSE after company's consolidated net profit galloped 1002% to Rs 92.14 crore in Q2 September 2014 over Q1 June 2014.
The company announced Q2 results after market hours on Monday, 20 October 2014.
Meanwhile, the BSE Sensex was up 84.29 points or 0.32% at 26,514.14.
On BSE, so far 12,025 shares were traded in the counter, compared with an average volume of 94,065 shares in the past one quarter.
The stock hit a high of Rs 258.30 and a low of Rs 252.10 so far during the day. The stock hit a 52-week high of Rs 353 on 10 September 2014. The stock hit a 52-week low of Rs 133.10 on 27 November 2013.
The stock had underperformed the market over the past one month till 20 October 2014, falling 24.93% compared with 2.44% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 19.67% as against Sensex's 3.07% rise.
The small-cap firm has an equity capital of Rs 21.32 crore. Face value per share is Rs 10.
Revenue was unchanged at Rs 108.16 crore in Q2 September 2014 on sequential basis. The consolidated net profit galloped 569.6% to Rs 92.14 crore on 4.4% decline in revenue to Rs 108.16 crore in Q2 September 2014 over Q2 September 2013.
The company's consolidated EBITDA rose 2% to Rs 9.80 crore in Q2 September 2014 over Q2 September 2013. EBITDA declined 17% to Rs 9.80 crore in Q2 September 2014 over Q1 June 2014.
The revenue contribution from the top five customers stood at 46.4% and from top ten customers at 64.7%, Sasken said in a statement For the quarter, consolidated earning per share (EPS) before exceptional items was at Rs 4.64 and after exceptional items was at Rs 43.27.
Speaking on the results, Rajiv Mody, Chairman and Managing Director said, We continue to build on our product engineering and IT services portfolio. We expect to consolidate and build on these initiatives over the next few quarters. As announced earlier this quarter, our successfully winning the arbitration award against Spreadtrum Communications Inc. is a testimony to our ability to create IP that is globally valued, added Mr. Mody.
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
