Chennai-based TAKE Solutions says, it clocked 65.68 pct rise in net profit

City-based TAKE Solutions Wednesday said it has clocked a 65.68 per cent rise in net profit to Rs 60.79 crore in the July-September 30, 2018 compared to the year-ago period. The service provider in life sciences had registered net profit at Rs 36.69 crore in the same period of last fiscal, the company said in a BSE filing. For the half year ending September 30, net profit surged 58.76 per cent, to Rs 114.96 crore from Rs 72.41 crore registered year ago.

Total revenue for the quarter ending September grew to Rs 529.03 crore, from Rs 372.02 crore. For the six month period ending September 30, total revenue stood at Rs 1,005.05 crore against Rs 727.47 crore registered a year ago. Commenting on the financial performance, TAKE Solutions Vice-Chairman and Managing Director, Srinivasan HR said, "TAKE recorded a high growth rate this quarter and we continue to invest ahead of the growth curve in the right technology".

"Our 2021 growth strategy is on track and we are seeing a consistent growth trajectory. We have a healthy cash balance and a strong pipeline of key prospects to complete our expansion in key markets including North America and Europe," he added. Shares of the company ended at Rs 163.55 apiece, up by 5.38 per cent over the previous close in BSE.

(With inputs from agencies.)