Cigniti Tech Stock Jumps 14% After Strong Q3 Profit Growth
Cigniti Technologies share price advanced 14.35% in early trade to Rs 1,703 apiece.
Cigniti Technologies Ltd. saw its share price soar 14% in early trade on Thursday after its consolidated net profit during the third quarter rose 20% sequentially.
The company reported a bottom-line of Rs 63.6 crore in the October-December period, compared to Rs 52.9 crore in the preceding quarter.
Revenue from operations jumped 3.5% from Rs 499 crore to Rs 516 crore.
On the operating side, earnings before interest and tax increased by 37.9% to Rs 77 crore. EBIT margin improved to 14.9% from 11.2% in the September period.
Cigniti Tech, majority owned by Coforge Ltd., is engaged in providing engineering and software testing services across various industries.
Cigniti Tech Share Price Up
Cigniti Tech share price advanced 14.35% in trade so far to Rs 1,703 apiece. The scrip was trading 13% higher by 9:52 a.m. The benchmark NSE Nifty 50 was up 0.27%.
The stock has risen 75.52% in the last 12 months. The total traded volume so far in the day stood at 17 times its 30-day average. The relative strength index was at 52.
