Sasken Technologies wants to focus on growth over margins
Rajiv C Mody, CMD of Sasken Technologies, said the product engineering and digital transformation services company will aim to maintain margins at 14-15%.
Rajiv C Mody, Chairman and Managing Director of Sasken Technologies, a prominent player in product engineering and digital transformation services, plans to prioritise growth over margins.
However, Mody also assured that the company will maintain margins at 14-15%.
The Bengaluru-based company's third quarter margins contracted sequentially to 3.1% from 12.4%. Revenue was up 6% at ₹96 crore crore from ₹102.5 crore in the second quarter. Net profit rose was down 2% sequentially to ₹17.7 crore from ₹18.1 crore.
"I think the numbers were not in line with our expectations, primarily because of the fact that we concluded a large program. And that had an impact on the third quarter," Mody stated.
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Addressing the company's focus on order wins, Mody highlighted a concerted effort towards securing larger orders, substantial deals, and extended-term agreements. He noted, "We have seen those moments happening in Q3 also, and that is a positive moment, and we see that momentum continuing."
The company's market capitalisation of ₹2,124.88 crore.
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(Edited by : Shweta Mungre)
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