Sasken Technologies fell 3.56% to Rs 495.05 at 10:18 IST on BSE after consolidated net profit fell 60.06% to Rs 17.30 crore on 0.07% decrease in net sales to Rs 117.58 crore in Q1 June 2017 over Q4 March 2017.
The result was announced after market hours yesterday, 18 July 2017.
Meanwhile, the S&P BSE Sensex was up 130.09 points, or 0.41% at 31,841.08. The S&P BSE Small-Cap index was up 127.82 points, or 0.81% at 15,945.42.
On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 29,023 shares in the past one quarter. The stock had hit a high of Rs 507.75 and a low of Rs 474.95 so far during the day. The stock had hit a 52-week high of Rs 578.90 on 13 July 2017 and a 52-week low of Rs 326.80 on 30 September 2016.
The stock had outperformed the market over the past one month till 18 July 2017, advancing 24.35% compared with the Sensex's 2.11% rise. The scrip had also outperformed the market over the past one quarter gaining 26.34% as against the Sensex's 8.16% rise. The scrip had also outperformed the market over the past one year advancing 46.47% as against the Sensex's 14.29% rise.
The small-cap company has equity capital of Rs 17.72 crore. Face value per share is Rs 10.
Rajiv C Mody, Chairman, Managing Director & CEO, Sasken Technologies said that in Q1 June 2017, the company's revenues have remained flat. Sasken Technologies is confident that its engineering DNA will help it to tap the opportunities in the segments it operate in. The company is encouraged by the market traction in both of its product engineering and digital IT services as investments continue to fuel the growth of the digital enterprise, Rajiv said.
Sasken Technologies is engaged in software development. It provides engineering research and development (ER&D), and productized information technology (IT) services to customers in the communications and devices, retail, insurance and independent software sectors.
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