Ramco Systems stock surges 14 pc after earnings

Shares of IT solutions provider Ramco Systems today surged 14 per cent after the firm reported a consolidated net profit of Rs 8.1 crore for December quarter.
Boosted by the strong earnings, shares of Ramco Systems ended the day 13.19 per cent higher at Rs 524.30 on the BSE. During the day, it rallied 19.99 per cent to Rs 555.80 -- its 52-week high.
At the NSE, it jumped 14.07 per cent to settle at Rs 527.
Tracking the strong momentum in the stock, the company's market valuation soared Rs 149 crore to Rs 1,276 crore.
The Chennai-headquartered firm had posted a net loss of Rs 5.5 crore in the year-ago period, it had said in a BSE filing yesterday.

Consolidated total income of the firm rose by 40 per cent to Rs 98.2 crore in October-December this fiscal from Rs 70 crore in the same quarter of 2013-14 fiscal.