Sasken Communication Technologies lost 1.74% to Rs 302.25 at 13:06 IST on BSE after consolidated net profit fell 52.3% to Rs 8.36 crore on 6.3% decline in revenue to Rs 108.19 crore in Q1 June 2014 over Q1 June 2013.
The Q1 result was announced after market hours on Thursday, 17 July 2014.
Meanwhile, the S&P BSE Sensex was up 22.19 points or 0.09% at 25,583.35.
On BSE, so far 2.90 lakh shares were traded in the counter as against average daily volume of 51,441 shares in the past one quarter.
The stock hit a high of Rs 311 and a low of Rs 285 so far during the day. The stock hit a 52-week low of Rs 100.60 on 4 September 2013. The stock hit a 52-week high of Rs 341.50 on 15 July 2014.
The stock had outperformed the market over the past one month till 17 July 2014, surging 44.89% compared with the Sensex's 0.16% rise. The scrip had also outperformed the market in past one quarter, advancing 40.2% as against Sensex's 12.96% rise.
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The company has equity capital of Rs 21.29 crore. Face value per share is Rs 10.
Sasken Communication Technologies (Sasken)'s consolidated EBITDA declined 36% to Rs 11.81 crore in Q1 June 2014 over Q1 June 2013. EBITDA margin stood at 10.9% during the quarter.
The revenue contribution from the top five customers stood at 40.8% and from top 10 customers at 56.1% in Q1 June 2014.
Sasken is a leader in providing engineering R&D and productized IT services to global tier 1 customers in the communications & devices, retail, insurance and independent software space.
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