Infibeam Incorporation gains 8% on strong Q3 performance

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Shares of Infibeam Incorporation gained 6 percent intraday Thursday on the back of strong Q3 performance.

The company's Q3 net profit was up 39 percent at Rs 30 crore and revenue was up 5 percent at Rs 213 crore, QoQ.

Earnings Before Interest & Tax (EBIT) of the company was up 32 percent at Rs 34 crore and margin was up 320 bps at 16 percent.

The company board approved issuance of convertible warrants up to Rs 40 crore to Network18.

It has approved an interim dividend of Rs 0.10 per equity share (10%) for FY 2017-18.

At 10:43 hrs Infibeam Incorporation was quoting at Rs 163.90, up Rs 5.65, or 3.57 percent on the BSE.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Posted by Rakesh Patil