)
Shares of Geometric were trading lower by 2% at Rs 103, extending its an over a month long fall, after reporting a disappointing set of numbers for the quarter ended March 2015. Currently, the stock is quoting at its 52-week low price.
In past two-months, the market value of IT consulting & software firm has fallen by nearly 50% from Rs 195 on April 14, compared to 8% fall in the S&P BSE Sensex.
In dollar terms, the company reported operating revenues of $ 42.92 million for the quarter ended March 31, 2015 compared to revenues of $ 46.60 million in the last quarter, and $ 44.29 million in Q4FY14.
Geometric said, decline in revenues from Q3’15 to Q4’15 was attributable mainly to sharp decline in Euro & reversal of revenues on account of issues arising from ERP switch over as well as other factors including delays in projects starting.
Meanwhile, there was also rumour that the promoters are planning to sell their entire stake in the Geometric and the frontline IT companies are in the race for eyeing controlling stake in the company. However, the company had denied the same.
In past two-months, the market value of IT consulting & software firm has fallen by nearly 50% from Rs 195 on April 14, compared to 8% fall in the S&P BSE Sensex.
In dollar terms, the company reported operating revenues of $ 42.92 million for the quarter ended March 31, 2015 compared to revenues of $ 46.60 million in the last quarter, and $ 44.29 million in Q4FY14.
Geometric said, decline in revenues from Q3’15 to Q4’15 was attributable mainly to sharp decline in Euro & reversal of revenues on account of issues arising from ERP switch over as well as other factors including delays in projects starting.
Meanwhile, there was also rumour that the promoters are planning to sell their entire stake in the Geometric and the frontline IT companies are in the race for eyeing controlling stake in the company. However, the company had denied the same.
