IT stock declares ₹12 per share interim dividend, PAT rises 136% QoQ in Q2
- Sasken Technologies Ltd., an IT software firm with a market valuation of Rs. 1,183.60 crore, is a small-cap company.
Sasken Technologies Ltd., an IT software firm with a market valuation of Rs. 1,183.60 crore, is a small-cap company. Sasken is an expert in product engineering and digital transformation, serving top companies worldwide in the semiconductor, automotive, industrials, smart devices & wearables, enterprise-grade devices, satcom, and transportation sectors. While declaring its Q2 results the Board of Directors has also announced an interim dividend of ₹12 per share.
The company has said in a stock exchange filing that “The Board declared an interim dividend of Rs.12 (120%) per equity share of Rs.10 each. As intimated vide our letter dated October 12, 2022, Board has fixed November 1, 2022 as the Record date to ascertain the list of shareholders eligible for the aforesaid Interim Dividend and the same will be paid on or before November 18, 2022.”
Sasken Technologies Ltd declared a net profit of ₹35.9 Cr in Q2FY23 compared to ₹15.20 Cr in the quarter that ended June which implies a QoQ growth of 136%. The company declares a revenue of ₹120 Cr Vs ₹101.3 Cr in Q1FY23 which represents a QoQ growth of 18.5%. The company's EBIT margin stood at 23.6% in Q2 Vs 25.6% in Q1 and EBIT was up 9.7% QoQ at ₹28.4 Cr Vs ₹25.9 Cr in the quarter ended June. The company declared a profit before tax (PBT) of ₹44.07 Cr in Q2FY23 compared to ₹20.23 Cr in the quarter that ended June which represents a QoQ growth of 117%.
The shares of Sasken Technologies Ltd closed today at ₹790.00 apiece, up by 1.06% from the previous close of ₹781.70. In trade today the stock recorded a total volume of 7,508 shares compared to the 20-Day average volume of 7,753 shares. On a YTD basis, the stock has fallen 41.24% so far in 2022. The stock had touched a 52-week-high of ₹1,525.00 on (21-October-2021) and a 52-week-low of ₹718.00 on (12-May-2022).
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