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AVANTEL SOFT Gains 8%; BSE IT Index Up 0.5%
Wed, 12 Jun 13:8

AVANTEL SOFT share price has zoomed 8% and is presently trading at Rs 133.0.

Meanwhile, the BSE IT index is at 35,546.8 (up 0.5%).

Among the top gainers in the BSE IT index today are TANLA SOLUTIONS (up 5.4%) and INFIBEAM AVENUES (up 4.5%).

ROUTE MOBILE (down 0.7%) and Eclerx Services (down 0.3%) are among the top losers today.

Over the last one year, AVANTEL SOFT has moved up from Rs 43.9 to Rs 133.0, registering a gain of Rs 89.1 (up 203.1%).

On the other hand, the BSE IT index has moved up from 29,076.2 to 35,546.8, registering a gain of 22.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 143.6%), INFIBEAM AVENUES (up 111.1%) and Birlasoft (up 99.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 76,875.8 (up 0.5%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 2.3%) and Bajaj Finance (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,413.0 (up 0.6%). Coal India and Power Grid Corp. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,724.7 to 76,875.8, registering a gain of 14,151.1 points (up 22.6%).

AVANTEL SOFT Financial Update...

AVANTEL SOFT net profit grew 26.2% YoY to Rs 122 million for the quarter ended March 2024, compared to a profit of Rs 96 million a year ago. Net sales declined 20.5% to Rs 418 million during the period as against Rs 525 million in January-March 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 61.5.

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