Shares of Iris Business Services gained 4.99 percent in early trade on the NSE on December 12, a day after the company announced a strategic partnership with financial performance management software provider Prophix. At close on December 12, the stock was trading in the red at 135.30 on December 11 at close. As of 9:20 am, the stock was trading at Rs 142.95.
Follow our market blog for live updates
In a December 11 regulatory filing, Iris Business Services, a business reporting and compliance solutions company, announced a strategic partnership with Prophix, a leading provider of financial performance management software. Under the new partnership, Prophix will now offer IRIS Carbon, the company's compliance reporting SaaS solution, to the office of the CFO across its clientele primarily in North America and Europe, the company said in a statement.
Also read: Buzzing Stocks: Infosys, Wipro, M&M, SpiceJet, RVNL, Swan Energy and others in news
In Q2FY24, Iris Business Services reported a 47.33 percent increase in net sales to Rs 22.73 crore in September 2023 - up from Rs 15.43 crore a year ago. Quarterly net profit for the period also grew to Rs 1.21 crore from Rs 0.45 crore in September 2022. Earnings before interest, taxation, depreciation and amortisation ( EBITDA) for the quarter ending September 2023 was Rs 2.88 crore, up 50.79 percent from Rs 1.91 crore in September 2022.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
