Going forward we are focusing our growth in healthcare and pharma domain by offering secured cloud solutions," said Suresh Venkatachari, the company founder and chairman said in a statement.
Leading cloud computing firm 8K Miles Software Services today reported a massive 173 percent increase in net income at Rs 5.4 crore in the three months to December, driven by higher sales income which jumped more than three times.
While total revenue rose 232 percent to Rs 34.8 crore, EBITDA jumped 311 percent to Rs 12.7 crore. "We grew our revenue in this quarter on both cloud solutions and cloud managed services.
Going forward we are focusing our growth in healthcare and pharma domain by offering secured cloud solutions," said Suresh Venkatachari, the company founder and chairman said in a statement.
However, in anticipation of the numbers announced after market hours, the 8K Miles hit a life-time high on the BSE at Rs 923, jumping 10 percent, but closed down 10 percent at Rs 744, while the benchmark gauge jumped 1.4 percent or 366 points. It can be noted that 8K Miles stocks have rallied more than 12 times in the past one year, hitting a life time high of Rs 923 apiece today while its 52-week low was Rs 75.
The Chennai-registered company is the only listed cloud player in the country and is headquartered in the Silicon Valley and has DSP Black Rock and Sundraram MF as investors with nearly 2 percent stake each. 8K Miles offers turnkey solutions on big data and mobility for SMBs, enterprises, and state/local government institutions.
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