8K Miles Software tanks over 30% in 2 days
The company has been deferring its March quarter earnings.
By ETMarkets.com | Updated:
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NEW DELHI: Shares of 8K Miles Software plunged as much as 19.96 per cent on Thursday. The company's stock has slipped over 30 per cent in the past two days.
The company has been deferring its March quarter earnings.
About the delay in releasing fourth-quarter results, the company's chairman & CEO Suresh Venkatachari in an interaction with CNBC-TV18, said, “There is no auditor problem or no issues. We adapted the Indian Accounting Standards (Ind AS) for the consolidated first time this year so it will take a little longer."
The company in its BSE filing on Monday said the board will meet on July 17, 2018 to consider and approve March quarterly results.
8K Miles was the top loser on the S&P BSE SmallCap index. It hit a 52-week high of Rs 1,024 apiece on November 29, 2017.
At 01:51 pm, shares of the company were trading at Rs 336 apiece on BSE, down 14.21 per cent. The m-cap stood at Rs 1,019.29 crore.
The company has been deferring its March quarter earnings.
About the delay in releasing fourth-quarter results, the company's chairman & CEO Suresh Venkatachari in an interaction with CNBC-TV18, said, “There is no auditor problem or no issues. We adapted the Indian Accounting Standards (Ind AS) for the consolidated first time this year so it will take a little longer."
The company in its BSE filing on Monday said the board will meet on July 17, 2018 to consider and approve March quarterly results.
8K Miles was the top loser on the S&P BSE SmallCap index. It hit a 52-week high of Rs 1,024 apiece on November 29, 2017.
At 01:51 pm, shares of the company were trading at Rs 336 apiece on BSE, down 14.21 per cent. The m-cap stood at Rs 1,019.29 crore.
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