 "8K Miles Software gains on healthy Q1 results")
Shares of 8K Miles Software Services were trading higher by 4% to Rs 883 on the NSE after the company reported more-than-double jump in consolidated net profit at Rs 7.22 crore for the quarter ended June 2015 (Q1).
The company, which is engaged in the internet software & services business, had posted a profit of Rs 3.15 crore in the year-ago quarter. It had posted a profit of Rs 6.27 crore in the December quarter.
Total operational revenues during the quarter under review increased by 140% to Rs 50.56 crore against Rs 20.99 crore in the corresponding quarter of previous fiscal.
“We see strong growth for our public cloud transformation business as our partners like Amazon Web Services recently announced that their overall cloud infrastructure services revenue for the last fiscal year was exceeding over 5 billion dollars. This level of maturity in enterprise cloud adoption will continue to drive bigger opportunities for our secured cloud platform” - said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services.
The stock hit a high of Rs 902 and has seen a combined around 40,000 shares changing hands on the counter on the NSE and BSE.
The company, which is engaged in the internet software & services business, had posted a profit of Rs 3.15 crore in the year-ago quarter. It had posted a profit of Rs 6.27 crore in the December quarter.
Total operational revenues during the quarter under review increased by 140% to Rs 50.56 crore against Rs 20.99 crore in the corresponding quarter of previous fiscal.
“We see strong growth for our public cloud transformation business as our partners like Amazon Web Services recently announced that their overall cloud infrastructure services revenue for the last fiscal year was exceeding over 5 billion dollars. This level of maturity in enterprise cloud adoption will continue to drive bigger opportunities for our secured cloud platform” - said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services.
The stock hit a high of Rs 902 and has seen a combined around 40,000 shares changing hands on the counter on the NSE and BSE.