Infinite Computer Solutions (India) has tanked 13% to Rs 130 after reporting 7% quarter-on-quarter (qoq) decline in consolidated net profit at Rs 24 crore for the third quarter ended December 31, 2013 (Q3), due to fall in operational income. The small-sized IT consulting and software company had profit of Rs 26 crore in September quarter.
Consolidated revenue of the company declined 5.6% qoq at Rs 450 crore. While EBITDA or operating profit remain flat at Rs 54 crore on sequential basis, Infinite Computer Solutions said in a statement.
The stock opened at Rs 145 and touched a low of Rs 124 on the NSE. A combined 427,000 shares already changed hands on the counter till 1250 hours against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.
Consolidated revenue of the company declined 5.6% qoq at Rs 450 crore. While EBITDA or operating profit remain flat at Rs 54 crore on sequential basis, Infinite Computer Solutions said in a statement.
The stock opened at Rs 145 and touched a low of Rs 124 on the NSE. A combined 427,000 shares already changed hands on the counter till 1250 hours against an average sub 200,000 shares that were traded daily in past two weeks on the BSE and NSE.