Shares of Birlasoft surged almost 12 percent to hit their 52-week high of Rs 139.70 in morning trade on BSE on August 6, a day after the company reported a nearly 35 percent rise in consolidated net profit for Q1 FY21.
Birlasoft, a part of the $2 billion diversified C K Birla Group, on Wednesday reported a nearly 35 percent rise in consolidated net profit at Rs 56.3 crore for the June 2020 quarter.
The company posted a profit of Rs 41.8 crore for April-June 2019, Birlasoft said in a regulatory filing.
Revenue from operations grew 17.7 percent to Rs 914.6 crore in the period under review from Rs 777.2 crore in the year-ago period.
Read more: Birlasoft Q1 profit up nearly 35% at Rs 56 crore
Brokerage firm Emkay Global has maintained a 'buy' call on Birlasoft with a target price of Rs 150 and raised FY21-23E EPS by 7-19 percent, driven by the June quarter beat and increase in revenue and margin assumptions.
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