Rich valuation may limit upside for BLS E-Services in short term

Rich valuation may limit upside for BLS E-Services in short term

Synopsis

For the December 2023 quarter, the company reported Rs 8 crore in net profit compared with a loss of Rs 12.1 crore in the year-ago quarter. Revenue grew by 3.7% year-on-year to Rs 71.7 crore. The revenue growth for the quarter seemed to be pale considering the growth of 33.7% for the nine months to Decembe

By Ranjit Shinde, ET Bureau

4 mins read, Last Updated:
Feb 14, 2024, 06:30:05 AM IST

ET Intelligence Group: The stock of BLS E-Services, which was listed on bourses last week at a substantial gain over the offer price, came under pressure on Tuesday. It lost over 6% in a bullish broader market as investors rushed to book profits amid stretched valuation notwithstanding the company’s improved profitability in the December 2023 quarter. Given the current rich valuation, the stock is expected to show weakness in the short term. For

( Originally published on Feb 13, 2024 )

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