Saksoft stock rallies 19%, hits 52-week high

NEW DELHI: Shares of IT service management company Saksoft rallied 19 per cent in Thursday's trade to hit a 52-week high of Rs 303.75 on the BSE.

The company's profit jumped 85.60 per cent to Rs 6.96 crore for June quarter against Rs 3.75 crore in the corresponding quarter last year, according to its press release submitted to BSE.

Operating revenue increased by 26.39 per cent to Rs 82.54 crore against Rs 65.31 crore logged in the year-ago period.

EBITDA increased 46.82 per cent to Rs 11.54 crore against Rs 7.86 crore in the corresponding quarter previous year.

"The companys sales focus has begun to produce results with a number of new logos being added in this quarter. This is a significant improvement from the past quarters. Most of the work for these logos are being delivered from Saksofts offshore centers which are resulting in margin improvement," said Aditya Krishna, Chairman & Managing Director, in the press release.

At 12:38 pm, shares of the company were trading 17.36 per cent higher at Rs 300.20 apiece on BSE.

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