Infibeam Incorporation gains as Q2 profit more than doubles
Total revenue during the quarter under review increased 76% year-on-year (YoY) at Rs 202 crore against Rs 115 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, taxes, depreciation and amortization) margins improved to 20% in Q2FY18 from 18.57% in Q2FY17.
The company said its Infibeam Web Services (IWS) segment has grown 92% YoY with 38% EBITDA margin. The revenue contribution from IWS Segment has increased to 61% in Q2FY18 from 29% in Q2FY17.
The stock had strong run-up prior to September quarter results, rallied 39% thus far in the month of November, as compared to 1% decline in the S&P BSE Sensex till Tuesday. It hit 52-week high of Rs 196 on November 6, on the BSE in intra-day trade.
At 09:47 AM; it was trading 2% higher at Rs 180, against 0.29% decline in the benchmark index. A combined 1.51 million shares changed hands on the counter on the NSE and BSE so far.