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SARK SYSTEMS Plunges 7%; BSE IT Index Up 0.1%
Mon, 7 Oct 12:51

SARK SYSTEMS Plunges 7%; BSE IT Index Up 0.1%Image source: asbe/www.istockphoto.com

SARK SYSTEMS share price has plunged 7% and is presently trading at Rs 66.5.

Meanwhile, the BSE IT index is at 42,421.2 (up 0.1%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 5.6%) and Sonata Software (down 2.6%).

Eclerx Services (up 3.0%) and LTIMINDTREE (up 2.0%) are among the top gainers today.

Over the last one year, SARK SYSTEMS has moved up from Rs 49.6 to Rs 66.5, registering a gain of Rs 16.9 (up 34.0%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,421.2, registering a gain of 32.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 169.3%), Firstsource Solutions (up 86.5%) and PERSISTENT SYSTEMS (up 81.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,392.5 (down 0.4%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 3.8%) and NTPC (down 3.6%). The most traded stocks in the BSE Sensex are Tata Steel and Axis Bank.

In the meantime, NSE Nifty is at 24,822.7 (down 0.8%). 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 81,392.5, registering a gain of 15,880.4 points (up 24.2%).

SARK SYSTEMS Financial Update...

SARK SYSTEMS net profit grew 38.1% YoY to Rs 20 million for the quarter ended June 2024, compared to a profit of Rs 15 million a year ago. Net sales rose 33.0% to Rs 223 million during the period as against Rs 168 million in April-June 2023.

For the year ended March 2023, SARK SYSTEMS reported 4.5% decrease in net profit to Rs 79 million compared to net profit of Rs 83 million during FY22. Revenue of the company fell 11.6% to Rs 844 million during FY23.

The current Price to earnings ratio of SARK SYSTEMS, based on rolling 12 month earnings, stands at 18.0.

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