Friday, October 9, 2015

8K Miles Q2 profit more than double

8K Miles Software Services has rallied 5% to Rs 1,874, also its new lifetime high on the BSE, after reporting more-than-doubled consolidated net profit at Rs 8.74 crore for the second quarter ended September 2015 (Q2) on back of strong operational income. The company had profit of Rs 4.15 crore in a year ago quarter.

Total operational income of the company during the quarter under review rose 126% to Rs 61.08 crore against Rs 27.08 crore in the corresponding quarter of previous year.

8K Miles secure cloud offerings includes innovations around service delivery models addressing better care for patients and lower costs through improvement for health care system.

“We see strong growth in our solutions for Healthcare and Life Science industries and expects to attain leadership position over next 24 months” - said Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services.

The company said it acquired NexAge Technologies USA Inc., - a leading regulatory compliance and technology solutions company for the life sciences industry in the USA to strengthen life cciences competency of the 8K Miles solutions portfolio. It also partnered with IBM to offer security solutions on multiple public clouds, it added.

Since June 30, the stock appreciated 115% from Rs 873 compared to 2.3% fall in the Sensex.

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