This telecommunications stock is in focus after it jumped over 6 percent following the announcement of acquiring a majority stake in Noida-based investment service provider Tikona Infinet Limited for Rs. 578 Crore.
Share Price Movement
With a market capitalization of Rs. 1,380 Crore, the stock of Sar Televenture Limited opened at Rs. 281, up 1.42 percent down from yesterday’s close, but after opening, it made a high of Rs. 302.95, up 6.27 percent.
Acquisition Update
The Company has announced the acquisition of a majority stake in Tikona Infinet Limited through a share swap deal for a total consideration of Rs. 578 Crore. Tikona Infinet is a Noida-based prominent internet service provider.
The company states that this acquisition marks a strategic milestone for SAR Televenture as it gains a strong foothold in the enterprise broadband segment, leading to it becoming 3rd largest player in the enterprise Broadband segment.
Tikona Infinet has a strong customer base across diverse industries with a presence in 25+ top cities and is well positioned for high-growth enterprise connectivity, managed services, etc.
Also read: PSU defence stock jumps after receiving ₹593 Cr order from Indian Air Force
Financial Highlights
The company reported a 124.32 percent YoY increase in revenue from Rs. 37 Crore in Q3FY24 to Rs. 83 Crore in Q3FY25. On a QoQ basis, the company reported an increase of 23.88 percent in revenue from Rs. 67 Crore in the previous quarter.
Their Net profit saw an increase of 225 percent YoY from Rs. 4 Crore to Rs. 13 Crore for the same period. On a QoQ basis, the company reported an increase of 8.33 percent in Net profit from Rs. 12 Crore in the previous quarter.
About the Company
SAR Televenture Limited, established in 2019 and headquartered in Noida, Uttar Pradesh, is an ISO-certified telecommunications infrastructure provider specializing in the installation and commissioning of 4G and 5G towers and Optical Fiber Cable (OFC) systems and offering network equipment solutions.
Written By Abhishek Das
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