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3I Infotech Plunges 5%; BSE IT Index Up 0.1%
Mon, 7 Oct 13:8

3I Infotech Plunges 5%; BSE IT Index Up 0.1%Image source: CreativaImages/www.istockphoto.com

3I Infotech share price has plunged 5% and is presently trading at Rs 30.0.

Meanwhile, the BSE IT index is at 42,385.8 (up 0.1%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 5.9%) and Sonata Software (down 2.8%).

Eclerx Services (up 2.8%) and LTIMINDTREE (up 2.0%) are among the top gainers today.

Over the last one year, 3I Infotech has moved down from Rs 41.9 to Rs 30.0, registering a loss of Rs 11.9 (down 28.4%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,385.8, registering a gain of 32.5% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.9%), Firstsource Solutions (up 85.8%) and PERSISTENT SYSTEMS (up 81.7%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,105.7 (down 0.7%).

The top losers among the BSE Sensex today are NTPC (down 4.2%) and MUNDRA PORT & SEZ (down 4.1%). The most traded stocks in the BSE Sensex are Tata Steel and Axis Bank.

In the meantime, NSE Nifty is at 24,793.9 (down 0.9%). NTPC and MUNDRA PORT & SEZ are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,105.7, registering a gain of 15,593.6 points (up 23.8%).

3I Infotech Financial Update...

3I Infotech net profit grew 45.3% YoY to Rs -85 million for the quarter ended June 2024, compared to a loss of Rs 156 million a year ago. Net sales declined 7.5% to Rs 1,798 million during the period as against Rs 1,944 million in April-June 2023.

For the year ended March 2023, 3I Infotech reported 102.4% increase in net profit to Rs 14 million compared to net loss of Rs 575 million during FY22. Revenue of the company grew 7.7% to Rs 7,291 million during FY23.

The current Price to earnings ratio of 3I Infotech, based on rolling 12 month earnings, stands at -1.7.

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