Aztec Software looked up 20 per cent on Thursday to close at Rs 24.30. More than 88,275 shares changed hands on the Bombay Stock Exchange (BSE).
The rise in the stock was backed by its results which was announced on Thursday. The broad-based rally in the IT sector has also seems to have aided the stock, market sources said.
For the first quarter ended June 30, 2003, Aztec has reported a net profit of Rs 53 lakh compared with a net loss of Rs 4.41 crore in the first quarter ended June 30, 2002.
Total income fell 15 per cent to Rs 9.69 crore (Rs 11.43 crore). On a consolidated basis, the group has posted a net profit of Rs 27 lakh in the first quarter ended June 30, 2003, compared with a loss of Rs 6.73 crore in the first quarter ended June 30, 2002.
The consolidated total income has decreased from Rs 11.46 crore to Rs 9.26 crore. Aztec derives a majority of its revenues from the US.
