Sasken Technologies shares hit record high on strong Q4 results

The stock rallied 14% to Rs 860 after the company reported a strong 27.5% sequentially growth in consolidated net profit at Rs 259 million in March 2018 quarter.

Shares of Sasken Technologies hit a record high of Rs 860 per share, up 14% on the BSE in early morning trade, after the company reported a strong 27.5% sequential growth in consolidated net profit at Rs 259 million in March 2018 quarter (Q4FY18), on back of healthy operational performance.

Consolidated revenues during the quarter under review declined 2.4% at Rs 1,287 million over the December 2017 quarter (Q3FY18).

EBITDA (earnings before interest, tax, depreciation and amortization) margin improved 430 bps to 16.7% from 12.4% in previous quarter.

Sasken Technologies said it added two new customers during the quarter taking the total number of active customers to 114.

In past one month, the stock has outperformed the market by surging 27% against 5.5% rise in the S&P BSE Sensex. It surpassed previous high of Rs 810, recorded on January 23, 2018 during intra-day trade.

At 10:08 am; Sasken Technologies was trading 12% higher at Rs 841 against 0.05% rise in the Sensex. The trading volumes on the counter jumped multiple-fold with a combined 468,562 shares changed hands on the BSE and NSE so far.