| Company | Value | Change | %Change |
|---|
Revenue for Updater Services rose by 2.5% quarter-on-quarter and was up 9.3% year-on-year.
Margins hit the highest level since listing. From 3.5%-4% at the time of listing, Updater Services’ margin stood at 6.8% at the end of the December quarter.
The company’s net profit rose 9.9% quarter-on-quarter and by 48.2% year-on-year.
According to data available on the exchanges, veteran investor Ashish Kacholia initially entered this stock by buying 2% stake, back in December 2023.
Kacholia held around 13 lakh shares worth more than ₹43.9 crore.
However, as per the latest shareholding filing of Updater Services, Kacholia’s name is missing from the shareholders list. This means, either his stake in the company has declined below 1%, or he has made an exit from the stock.
Updater Services is an integrated business services platform in India, providing both integrated facilities management (IFM) and business support services (BSS) with a nationwide presence. Within the BSS segment, the company offers audit and assurance services through its subsidiary, Matrix.
The company’s service portfolio encompasses various sectors, including FMCG manufacturing, engineering, BFSI, healthcare, IT, automobiles, logistics and warehousing, airports, ports, infrastructure, and retail, among others.
The company had raised ₹640 crore through its IPO last year. The stock listed at its IPO price itself.
Shares of Updater Services are currently trading 7% higher at ₹342.20. The stock is down 27% from its recent peak of ₹438.6.
(With Inputs From Reema Tendulkar.)
