Q2 profit rises 51%; board proposes Rs 48 crore buyback
ALLDIGI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.0 pts more than its Business Process Outsourcing (BPO)/ Knowledge Process Outsourcing (KPO) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue rose 4% year on year to Rs 153.31 crore, while profit after tax rose 51% to Rs 26.58 crore. In the first half, revenue rose 4% to Rs 303.59 crore and profit rose 37% to Rs 44.70 crore. Cash generated from operations was Rs 70.20 crore. The board proposed a Rs 48 crore buyback of up to 4.8 lakh shares at Rs 1,000 each, subject to shareholder approval. The auditor's review was unmodified.
Profit and cash growth support sentiment. The proposed buyback may help the share price, but needs shareholder approval and will use cash.