Sasken Technologies higher by 13 per cent on strong Q2 results

The share prices of Sasken Technologies witnessed a steep surge of over 13 per cent to Rs. 595 per share, hitting its 52-week high on the bourses.The company announced its second quarter results on Tuesday.
 
The product engineering and digital services company reported a 55 per cent jump in its consolidated net profit to Rs 18.77 crore for Q2FY18 on a yearly basis.

The revenue of the company grew by 6 per cent to Rs 125 crore in Q2FY18 as compared to Rs 118 crore in the same quarter of the previous financial year. The net profit and the operational revenue of the company increased by 8.5 per cent and 6.2 per cent for the consecutive quarter.

The board of the company also announced an interim dividend of Rs. 2.50 per equity share of Rs. 10 each.

The company outperformed the market with gains of over 29 per cent over the last two months, against a return of 3  per cent on the S&P BSE Sensex.

At 1141 hours IST, the stock was trading at Rs. 576.75 per share, higher by 9.31 per cent on BSE. Meanwhile S&P BSE Sensex was trading at 32,644.35 level, higher by 0.03 per cent and NSE Nifty50 was trading at 10,242.85 level, higher by 0.12 per cent on Tuesday.