8K Miles Software shines with fantastic Q1FY17 results

8K Miles Software Services (8K Miles) has declared its first quarterly results on Friday. The company’s revenue has increased by 20.31 per cent to Rs 104 crore in Q1FY17 as compared to previous quarter. Its EBITDA too has risen by 39.60 per cent to Rs 36.77 crore in Q1FY17 on a quarterly basis. 8K Miles’ net profit also has boosted by 56.49 per cent to Rs 19.32 crore in Q1FY16 as compared to previous quarter.

8K Miles became a Microsoft CSP partner, an IBM partner in Canada. The company signed agreements with 4 new healthcare partners to enhance their clientele and healthcare professional services business. It is also expanding EHR expertise from existing EHR vendors to others like Allscripts.

8K Miles is also engaged on an enterprise wide IT Transformation for the Cloud and critical HIPAA compliant workload migration to the Cloud for a new large pharmaceutical customer. The company also won Pharma Validation Service project with a major customer based in San Francisco.

The share price of 8K Miles increased by 12.84 per cent on bourses after declaration of result; and closed at Rs 1970.1 on an intraday basis.

8K Miles is a global Cloud, SaaS & Security Solutions company based in the San Francisco Bay area. The company provides digital technology solutions – SMAC (Social, Mobile, Analytics and Cloud) for seamless connectivity between consumers, SMBs, large enterprises, healthcare providers and pharmaceutical companies.