8K Miles Software posts 168% rise in Q1 net profit, shares surge over 10%

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Updated: July 8, 2016 4:19:26 PM

8K Miles Software Services share price surged as much as 12.84 per cent on Friday after the company announced 167.69 per cent rise in consolidated net profit figures for the latest quarter ended June 30, 2016.

Multibaggers alert! Stocks that soared up to 8000 per cent in last 5 years8K Miles Software Services share price surged as much as 12.84 per cent on Friday after the company announced 167.69 per cent rise in consolidated net profit figures for the latest quarter ended June 30, 2016. (Photo: PTI)

8K Miles Software Services share price surged as much as 12.84 per cent on Friday after the company announced 167.69 per cent rise in consolidated net profit figures for the latest quarter ended June 30, 2016.

At 1.26 pm, shares of 8K Miles Software Services were trading 10.68 per cent up at Rs 1966.60. The scrip opened the day at Rs 1788 and has touched a high and low of Rs 2005 and Rs 1786.85, respectively, in trade so far. Later, the scrip settled the day 10.88 per cent up at Rs 1970.10.

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For the quarter ended June 30, 2016, 8K Miles Software Services posted a consolidated net profit of Rs 19.33 crore against net profit of Rs 7.22 crore in the corresponding quarter a year ago.

Gross sales of the company jumped 105.44 per cent year-on-year to Rs 103.87 crore from Rs 50.56 crore during the same quarter.

On BSE, so far 93,000 shares were traded in the counter, compared with average daily volume of 3996 shares in the past two weeks.

In the past six years, the share price of the company surged nearly 100 times to Rs 1776.85 on July 7. The scrip was at Rs 18 in July 2010.

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