Audited Q2 revenue and profit fall despite sequential growth
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On the reaction day the stock moved 3.6 pts less than Nifty Midcap 150 and 3.5 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Quarter revenue was Rs 918.10 crore, down 3.9% from Rs 955.09 crore a year earlier, while net profit fell 32.5% to Rs 154.82 crore. Half-year revenue declined 3.8% to Rs 1,810.20 crore and profit fell 27.6% to Rs 299.19 crore. Sequentially, revenue and profit rose 2.9% and 7.2%. Operating cash flow remained positive at Rs 265.79 crore, and the auditor gave an unmodified opinion.
Weaker sales, lower profit and narrower margins may weigh on the stock, though sequential growth and positive cash flow offer some support.