Sasken Tech in the red

Last whole week, Sasken Technologies had been hitting consistent new highs but post the Q1FY18 numbers yesterday, it has slipped into the red.

The company’s performance for the first quarter was not good – its net profit slumped by a huge 60% (QoQ) at Rs.17 crore. Growth in revenue was flat at Rs.118 crore. EBITDA fell 15% to Rs.13 crore and margins contracted from 12.8% to 10.9%.

Total employee strength stands at 1959, down from 1963 in Q4 and YoY, it has come down from 2057. Attrition rose from 17.7% to 21.3% (QoQ).

In terms of geographical verticals, USA revenue contributed 37% up from 32%; EMEA fell from 34% to 28%; India rose from 26% to 28% and APAC declined from 8% to 7%.

It added 6 new customers in Q1, taking the total number of active clients stood at 129. Cash and cash equivalents stood at Rs.417 crore.