Sagility India gains 10% on reporting 236% rise in PAT; revenue up 21%

Recently listed Sagility India shares gained 9.9 per cent in Tuesday's trade and logged an intraday high at Rs 31.44 per share on BSE. In comparison, the BSE Sensex was down 0.03 per cent at 80,083.03. The market capitalisation of the company stood at Rs 14,535.52 crore. The counter saw buying after the company reported healthy Q2FY25 numbers.

 

The company's profit after tax (PAT) for the second quarter ended September 30, 2024, stood at Rs 117.34 crore as compared to Rs 34.961 crore a year ago which implies an increase of 236 per cent year-on-year (Y-o-Y).

 

Sagility India's revenue from operations for the quarter under review stood at Rs 1,325 crore as compared to Rs 1,094.1 crore a year ago, up 21.1 per cent. Its total income stood at Rs 1,340.4 crore as compared to Rs 1,123.2 crore a year ago. 

 

 

The company's total expenses, on the other hand, stood at Rs 1,180 crore as compared to Rs 1,079.8 crore a year ago. 

 

Shares of Sagility India had made a lacklustre debut on the bourses on November 12, 2024, at Rs 31.06 on the BSE, reflecting a premium of 3.53 per cent against the IPO allotment price of Rs 30.

 

Similarly, on the National Stock Exchange (NSE) too, Sagility India shares listed at a premium of 3.53 per cent against the IPO allotment price, at Rs 31.06 on Tuesday. 

 

The company's IPO, which was available at a price band of Rs 28-Rs 30 with a lot size of 500 shares, received the highest demand from retail investors, who placed bids at a subscription rate of 4.16 times, followed by qualified institutional buyers (QIBs) at 3.52 times, and non-institutional investors (NIIs) at 1.93 times. 

 

Meanwhile, the quota reserved for employees was subscribed 3.75 times by the last day of subscription. The basis of allotment for Sagility India IPO shares was finalised on November 8, 2024.

 

Sagility India provides healthcare-focused solutions and services to US-based payers (health insurers) and providers (hospitals, physicians, etc.). Services include claims administration, payment integrity, clinical management, and revenue cycle management. 

 

The company supports core business operations for both payers and providers and also serves Pharmacy Benefit Managers. 

 

Since its listing, the stock has lost 2.3 per cent as compared to Sensex's rise of 1.8 per cent.