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AVANTEL SOFT Gains 9%; BSE IT Index Up 0.6%
Tue, 18 Jun 9:34

AVANTEL SOFT share price has zoomed 9% and is presently trading at Rs 178.5.

Meanwhile, the BSE IT index is at 35,720.2 (up 0.6%).

Among the top gainers in the BSE IT index today are Wipro (up 2.7%) and Oracle Financial Services (up 2.5%).

INTELLECT DESIGN (down 1.0%) and ROUTE MOBILE (down 0.8%) are among the top losers today.

Over the last one year, AVANTEL SOFT has moved up from Rs 44.5 to Rs 178.5, registering a gain of Rs 134.0 (up 301.0%).

On the other hand, the BSE IT index has moved up from 29,222.8 to 35,720.2, registering a gain of 22.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 156.9%), INFIBEAM AVENUES (up 106.0%) and Birlasoft (up 101.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 77,095.4 (up 0.1%).

The top gainers among the BSE Sensex today are Wipro (up 2.7%) and Titan (up 2.0%). The most traded stocks in the BSE Sensex are Tata Steel and Wipro.

In the meantime, NSE Nifty is at 23,516.3 (up 0.2%). Wipro and Titan are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,143.2 to 77,095.4, registering a gain of 13,952.3 points (up 22.1%).

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 82.6.

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