Sasken Communications is surging!

Shares of Sasken Communications Ltd., a small-sized software services provider, rose as much as 10 percent after both quarterly sales and profit surged as clients sent more work offshore.

Sasken rose 4.8 percent, or 10.9 rupees, to 238.40 rupees on the National Stock Exchange. It earlier hit a high of 249 rupees on the NSE, where 2.73 lakh shares changed hands in the first 3 hours of trade compared with a 1-week average of 24,000 shares.

Earlier, Sasken reported its first quarter PAT rose to 7.9 crore rupees compared with 4.6 crore rupees a the same quarter a year ago. Sales in the April-June quarter rose to 90.1 crore rupees versus 85 crore rupees a year ago, Sasken said.

Sasken has seen its market capitalization erode 22 percent to 509 crore rupees in one year.
(Image credits: Sasken)