Saken Technologies hits new high

Sasken Technologies rose 18% to Rs.888.80 today, a new record high. Volumes are up by a mind boggling almost 89 times.

The stock price has reacted positively on the back of its encouraging performance for Q4FY18.

The company reported a 27.5% (QoQ) growth in consolidated net profit at Rs.26 crore; thanks to a healthy operational show. Its consolidated revenue rose 2% to Rs.129 crore.

EBITDA margin did very well – it was up from 12.4% to 16.7%, a growth of 430 bps. A higher topline and a 7% drop in operating expenses helped this surge in margins.

The company added two new customers during Q4; with this the total tally of its active customers is at 114.

The company ended FY18 with a net profit of Rs.82 crore, down from Rs.85 crore of Fy17.