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AVANTEL SOFT Gains 5%; BSE IT Index Up 1.1%
Thu, 13 Jun 16:7

AVANTEL SOFT share price has zoomed 5% and is presently trading at Rs 141.2.

Meanwhile, the BSE IT index is at 35,766.4 (up 1.1%).

Among the top gainers in the BSE IT index today are Oracle Financial Services (up 10.9%) and ZENSAR TECHNOLOGIES (up 2.4%).

TANLA SOLUTIONS (down 1.9%) and ROUTE MOBILE (down 0.9%) are among the top losers today.

Over the last one year, AVANTEL SOFT has moved up from Rs 43.9 to Rs 141.2, registering a gain of Rs 97.3 (up 221.7%).

On the other hand, the BSE IT index has moved up from 29,076.2 to 35,766.4, registering a gain of 23.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 169.9%), INFIBEAM AVENUES (up 109.6%) and Birlasoft (up 102.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 76,810.9 (up 0.3%).

The top gainers among the BSE Sensex today are M&M (up 3.1%) and Titan (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 23,399.4 (up 0.3%). Shriram Transport and HDFC LIFE INSURANCE are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,724.7 to 76,810.9, registering a gain of 14,086.2 points (up 22.5%).

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 65.3.

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