Take Solutions records third quarter net profit at Rs 41.95 crore

Take Solutions Ltd has recorded a 11 per cent rise in net profits for the third quarter ending December 31, 2017 at Rs 41.95 crore. The city-based company had registered net profits at Rs 37.77 crore during corresponding period of previous year.

For the April-December 31, 2017 period, net profits of the company wentup to Rs 114.37 crore from Rs 104.34 crore registered during year ago period. Total income for the October-December 2017 quarter surged to Rs 409.38 crore from Rs 345.34 crore registered during year ago period.

For the nine month period ending December 31, 2017 total income rose to Rs 1,136.86 crore, as against Rs 1,001.41 crore registered during year ago period. Commenting on the financial performance, company Vice-Chairman and Managing Director, Srinivasan H R said third quarter witnessed strong business growth as can be seen in the financial results.

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"In response to the emerging growth possibilities we are delighted to announce a preferential allotment of Rs 250 crore to the promoters", he said in another press release.

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The funds raised would be used to scale the business in "clinical and regulatory spaces" inorganically through strategic acquisitions in North American and European markets, he said.

Shares of the company ended at Rs 167 apiece upby 1.77 per cent over previous close in BSE.

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