Stock-specific action remained in focus on Dalal Street on October 16, with investors reacting to corporate developments and quarterly earnings.
Persistent Systems share price fell 4 percent after the company reported a 25.4 percent year-on-year decline in consolidated Q2 net profit to Rs 351.5 crore from Rs 471.5 crore, even as revenue grew 30.3 percent to Rs 4,663.9 crore from Rs 3,580.7 crore. Dollar revenue increased 20 percent to $487.6 million from $406.2 million, while EBIT rose 19.5 percent to Rs 697.7 crore from Rs 583.7 crore. EBIT margin contracted 130 basis points to 15 percent from 16.3 percent.
Angel One share price declined 2 percent despite company reported a 58.2 percent year-on-year jump in consolidated Q2 net profit to Rs 335 crore from Rs 211.7 crore. Revenue grew 18.7 percent to Rs 1,427 crore from Rs 1,201.8 crore.
Share price of Sri Lotus Developers and Realty touched 52-week high after company reported a 77.9 percent year-on-year increase in consolidated Q2 net profit to Rs 82.1 crore from Rs 46.2 crore. Revenue rose 52.5 percent to Rs 268.6 crore from Rs 176.1 crore.
Broader indices were trading lower with Nifty Midcap index falling 0.32%, while smallcap index was unchanged.