8K Miles

8K Miles Software had hit a life time high two days before the Q3FY16 results were announced. The company posted a super duper set of Q3FY16 numbers. It reported a 109% (YoY) rise in net profit at Rs.11 crore, mainly on the back of strong revenue accruing from its acquisitions. Q3 is seasonally weak but the company did well with a with a 115% jump in revenue at Rs.74 crore. During Q3, it completed integration of its buyout – NexAge Technologies and this is what helped boost the earnings.

The company, a leading global Cloud & Security solutions company headquartered in the San Francisco Bay area. The company has stated that it foresees a strong growth for its public cloud transformation business as its partners like Amazon Web Services recently announced that their overall cloud infrastructure services revenue for the last fiscal year was exceeding over 5 billion dollars. This level of maturity in enterprise cloud adoption is expected to drive bigger opportunities for 8K Miles’ secured cloud platform.

The company is making a mark for itself as a differentiated cloud managed solution provider to the Healthcare sector. By leveraging its expertise in cloud solutions, 8K Miles hopes to help hospitals and healthcare provider and this has become its niche. FII stake in the company remains nil while promoters stake stands at 61.96%.