 "SQS India BFSI rallies on strong Q4 results")
SQS India BFSI has rallied 12% to Rs 1,115 on the National Stock Exchange (NSE) after the company reported nearly seven-fold jump in consolidated net profit at Rs 10.60 crore for the fourth quarter ended March 2016 (Q4FY16).
Information technology (IT) consulting & software firm had profit of Rs 1.6 crore in the previous year quarter.
Total income for Q4FY16 up by 36% to Rs 72.40 crore compared to Rs 53.10 crore during Q4 FY15. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved substantially at 22.7% for Q4 FY16 compared to 17.1% in Q4 FY15.
Commenting on the results, Ms. Aarti Arvind, managing director & CEO, SQS India BFSI, said “During the year, the additional revenues have come from Europe as well as the banking and cards & payments practices. The Insurance practice has also shown significant growth compared to the previous year. The market focus continues to be on the US region.
SQS India BFSI is a specialist in financial and banking software testing services, and is the only independent testing service provider listed in India.
At 10:05 am, the stock was up 8.5% at Rs 1,070 on the NSE as compared to 0.34% rise in Nifty 50 index. A combined 57,551 shares already changed hands so far against an average sub 25,000 shares that were traded daily in past two weeks on the NSE and BSE.
Information technology (IT) consulting & software firm had profit of Rs 1.6 crore in the previous year quarter.
Total income for Q4FY16 up by 36% to Rs 72.40 crore compared to Rs 53.10 crore during Q4 FY15. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved substantially at 22.7% for Q4 FY16 compared to 17.1% in Q4 FY15.
Commenting on the results, Ms. Aarti Arvind, managing director & CEO, SQS India BFSI, said “During the year, the additional revenues have come from Europe as well as the banking and cards & payments practices. The Insurance practice has also shown significant growth compared to the previous year. The market focus continues to be on the US region.
SQS India BFSI is a specialist in financial and banking software testing services, and is the only independent testing service provider listed in India.
At 10:05 am, the stock was up 8.5% at Rs 1,070 on the NSE as compared to 0.34% rise in Nifty 50 index. A combined 57,551 shares already changed hands so far against an average sub 25,000 shares that were traded daily in past two weeks on the NSE and BSE.
