Sasken Technologies slips 12% on poor set of numbers

Sasken Technologies slips 12% on poor set of numbers

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Shares of Sasken Technologies slipped 12 percent intraday Wednesday after company reported weak set of numbers for the quarter ended September 2018.

The company’s Q2 net profit fell 39 percent to Rs 16.89 crore versus Rs 28 crore in the June quarter (Q1FY19).

Revenue slipped to Rs 113.08 crore versus Rs 134.27 crore.

The board declared an interim dividend of Rs 5 (50 percent) per equity share of Rs 10 each.

Rajiv C Mody, CMD & CEO of Sasken Technologies said, “This quarter has been turbulent on account of two factors; one being the overruns in certain programs as a result of scope changes and other reason being the deferment of certain program which we were expecting to fructify.”

At 10:27 hrs Sasken Technologies was quoting at Rs 661.90, down Rs 85.45, or 11.43 percent

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courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/sasken-technologies-slips-12poor-setnumbers_11581681.html

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