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AVANTEL SOFT Gains 5%; BSE IT Index Down 0.6%
Thu, 24 Oct 15:49

AVANTEL SOFT Gains 5%; BSE IT Index Down 0.6%Image source: asbe/www.istockphoto.com

AVANTEL SOFT share price has zoomed 5% and is presently trading at Rs 173.6.

Meanwhile, the BSE IT index is at 41,930.2 (down 0.6%).

Among the top gainers in the BSE IT index today are CYIENT (up 3.1%) and Coforge (up 1.8%).

KPIT TECHNOLOGIES (down 13.1%) and Firstsource Solutions (down 5.7%) are among the top losers today.

Over the last one year, AVANTEL SOFT has moved up from Rs 100.0 to Rs 173.6, registering a gain of Rs 73.6 (up 73.6%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 41,930.2, registering a gain of 34.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 173.2%), Firstsource Solutions (up 107.5%) and PERSISTENT SYSTEMS (up 95.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,065.2 .

The top losers among the BSE Sensex today are Hindustan Unilever (down 5.8%) and Nestle (down 2.7%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,414.6 (down 0.1%). Hindustan Unilever and SBI LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,065.2, registering a gain of 15,493.3 points (up 24.0%).

AVANTEL SOFT Financial Update...

AVANTEL SOFT net profit grew 42.5% YoY to Rs 229 million for the quarter ended September 2024, compared to a profit of Rs 161 million a year ago. Net sales rose 42.5% to Rs 774 million during the period as against Rs 543 million in July-September 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 71.9.

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