 "KPIT Technologies dips on lower Q4 revenue outlook")
KPIT Technologies has dipped 7% to Rs 192 on the National Stock Exchange (NSE) after the information technology (IT) company said that the revenue growth in dollar terms is expected to be muted in January-March 2015 quarter (Q4 FY15), mainly due to significant negative cross currency impact.
“The revenues for the fourth quarter of FY15 will be flat as compared to the revenue of Q3FY15 in the reported USD number, mainly due to significant negative cross currency impact,” KPIT Technologies said in a statement.
For the whole year the cross currency impact will be more than 1% of the annual revenues. Thus the revenue guidance for FY15 will be met on constant currency terms but will be proportionately lower in terms of USD reported revenue, it added.
The company said, there will be marginal growth in the profit after tax (PAT) for FY15 as compared to PAT for FY14.
The company remains positive about the growth prospects for FY16 and beyond.
The stock opened at Rs 203 and touched a low of Rs 189 on the NSE. A combined 2.02 million shares changed hands on the counter till 1335 hours on NSE and BSE.
“The revenues for the fourth quarter of FY15 will be flat as compared to the revenue of Q3FY15 in the reported USD number, mainly due to significant negative cross currency impact,” KPIT Technologies said in a statement.
For the whole year the cross currency impact will be more than 1% of the annual revenues. Thus the revenue guidance for FY15 will be met on constant currency terms but will be proportionately lower in terms of USD reported revenue, it added.
The company said, there will be marginal growth in the profit after tax (PAT) for FY15 as compared to PAT for FY14.
The company remains positive about the growth prospects for FY16 and beyond.
The stock opened at Rs 203 and touched a low of Rs 189 on the NSE. A combined 2.02 million shares changed hands on the counter till 1335 hours on NSE and BSE.