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AVANTEL SOFT Gains 8%; BSE IT Index Down 1.2%
Wed, 18 Sep 9:23

AVANTEL SOFT Gains 8%; BSE IT Index Down 1.2%Image source: peterschreiber.media/www.istockphoto.com

AVANTEL SOFT share price has zoomed 8% and is presently trading at Rs 179.4.

Meanwhile, the BSE IT index is at 43,433.6 (down 1.2%).

Among the top gainers in the BSE IT index today are INDIAMART INTERMESH (up 0.5%) and INTELLECT DESIGN (up 0.5%).

Mphasis (down 2.7%) and LTIMINDTREE (down 1.8%) are among the top losers today.

Over the last one year, AVANTEL SOFT has moved up from Rs 70.1 to Rs 179.4, registering a gain of Rs 109.3 (up 155.8%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 43,433.6, registering a gain of 30.8% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 184.6%), Firstsource Solutions (up 86.4%) and PERSISTENT SYSTEMS (up 82.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,988.0 (down 0.1%).

The top losers among the BSE Sensex today are Infosys (down 1.6%) and TCS (down 1.3%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 25,394.2 (down 0.1%). Wipro and Tech Mahindra are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 82,988.0, registering a gain of 15,391.1 points (up 22.8%).

AVANTEL SOFT Financial Update...

AVANTEL SOFT net profit fell 7.9% YoY to Rs 74 million for the quarter ended June 2024, compared to a profit of Rs 80 million a year ago. Net sales declined 24.9% to Rs 518 million during the period as against Rs 689 million in April-June 2023.

For the year ended March 2024, AVANTEL SOFT reported 95.8% increase in net profit to Rs 526 million compared to net profit of Rs 268 million during FY23. Revenue of the company grew 44.9% to Rs 1,976 million during FY24.

The current Price to earnings ratio of AVANTEL SOFT, based on rolling 12 month earnings, stands at 84.0.

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