 "KPIT Tech Q2 net down at 23%")
KPIT Technologies, IT product and solutions firms, reported net profit dropped 23 per cent for the second quarter ended September 30, 2016 at Rs 56.2 crore, compared to Rs 73.8 crore in the corresponding quarter last financial year.
Revenue for the quarter at Rs 831 crore was up 2.23 per cent year-on-year and 3.4 per cent sequentially. The company at the beginning of the year had stated that the first two quarters ofthe financial year will see flat growth as it has been undergoing internal changes as well as external business environment was changing.
There were also reports that the company is planning to raise funds by roping inlarge private equity players.
Revenue for the quarter at Rs 831 crore was up 2.23 per cent year-on-year and 3.4 per cent sequentially. The company at the beginning of the year had stated that the first two quarters ofthe financial year will see flat growth as it has been undergoing internal changes as well as external business environment was changing.
There were also reports that the company is planning to raise funds by roping inlarge private equity players.