Rolta India Surges 20% As Q2 Net More Than Doubles
Rolta India shares surged as much as 20 per cent to its maximum intraday limit of Rs 65.40 on Monday after its net profit in the September quarter more than doubled sequentially to Rs 54.3 crore.
The Mumbai-based IT solutions provider had reported a net profit of Rs 23.15 crore for the first quarter of the current fiscal year.
"At Rolta, we embarked on an ambitious journey to successfully transform from a predominantly GIS and engineering services company into a differentiated IP-led software products and solutions organization focused on digital technologies... I expect Rolta to reap the benefits from its transformation as an early mover," K K Singh, chairman and managing director at Rolta, said in a release to stock exchange BSE.
Meanwhile, its revenue in the second quarter fell 8 per cent to Rs 737 crore compared to Rs 800.4 crore in the June quarter.
Rolta India shares closed 20 per cent higher at Rs 65.4 as against Friday's close of Rs 54.5 on the NSE.
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