8K Miles

8K Miles Software recently announced acquisition of Mindprint Inc of Canada, a clinical research software startup company for $400,000,  of which $150,000 is payable in cash and balance via stock of its US subsidiary. The acquisition will be completed before the end of current fiscal. The market did not react too optimistically to this news; not the way it did to its acquisition of SERJ Solutions, a provider of innovative Epic EHR consulting, custom application development, and support solutions for the healthcare market. Both these acquisitions, solidifies 8K Miles goal to offer a unique and differentiated cloud managed solution to the Healthcare sector.

8K Miles is a global secure cloud solutions and managed services company, providing digital technology solutions. Financially, the company is doing well. For Q3FY15, the company announced a 3 times rise in net consolidated revenue earned at Rs.34 crore and net profit was up 173% (YoY) and 30% (QoQ) at Rs.5.38 crore. Salaries, typical of any IT company remains its biggest expense – 44% of net income earned is eaten away by this cost. The good news here, it’s 9MFY15 net profit at Rs.13 crore is already more than double the FY14 net profit of Rs.6 crore. Sure to end current fiscal on a bumper note. Domestic fund house too have taken keen interest in the stock, with DSP Blackrock and Sundaram BNP together picking up 5% stake in the company. FII stake is nil and promoters hold 66.28%.