Allied Digital Services stock slumps ~5% post Q3 results

1 Feb 2022 , 10:23 AM

Allied Digital Services Ltd. announced its result for the quarter ended December 2021 and reported extraordinary results for the quarter. However, the impact wasn’t visible on its Tuesday morning trade as it traded 5% lower at Rs 136.95 against its previous closing price of Rs 144.15, shedding Rs 7.20 so far.

Its scrip has touched an intraday high and low of Rs 138 and Rs 136.95 respectively.

The company reported consolidated revenue of Rs 116.97 crore for Q3 FY’22 against Rs 90.92 crore for Q3 FY’21, reflecting a growth of 29% YoY. While revenue for the 9M period ending December 2021 stood at Rs 328.26 crore against Rs 262 crore for the previous corresponding quarter, up by 25% YoY.

Its PAT for the quarter stood at Rs 6.85 crore for the quarter against Rs 7 crore for the previous corresponding quarter, down by 2.86% YoY. Consolidated PBT for the nine months increased by 55% on a YoY basis.

Mr. Nitin Shah, CMD Allied Digital commented on the performance of the company, “We are continuing to climb scale heights winning large IT managed service deals in enterprise managed IT services globally, including cybersecurity and cloud. Also, we are engaged in several path-breaking initiative projects that include Robotic Process Automation (RPA) and Artificial Intelligence (Al). This is the outcome of our enhanced service governance, compliance, and strategic investments in emerging digital technologies. This – has led us to scale larger frontiers across various industry domains. We are embarked on a clear roadmap and are poised to witness another exciting year of growth.”