 "KPIT Technologies rallies over 10% on robust Q2 results")
KPIT Technologies has rallied 18% to Rs 145 on the BSE after reporting a robust 69% quarter-on-quarter (QoQ) growth in consolidated net profit at Rs 75 crore for the quarter ended September 2015 (Q2FY16), on back of strong operational performance.
Information technology (IT) consulting & software firm had profit of Rs 44.4 crore in June quarter.
Income from operations grew 7.1% at Rs 812 crore on QoQ basis. EBITDA Margins for the quarter improved by 441 bps to 14.02% on sequential basis.
The positive impact of the rupee depreciation on EBITDA margins was around 60 bps to 70 bps during the quarter, KPIT said in a statement.
Analysts on an average had expected profit of Rs 42 crore on revenues of Rs 784 crore.
“The performance for the quarter has been satisfactory with good growth in Engineering and SAP and profitability improvement across all strategic business units (SBUs),” said Kishor Patil, Co-founder, CEO & MD, KPIT.
“Though there will be some impact due to lower billing days in Q3, we are confident about the sustainability of the operating performance and intend to improve further in the coming quarters,” he added.
At 10:08 am, the stock was up 12% at Rs 138 on the BSE. The trading volumes on the counter jumped more than four-fold with a combined 3.5 million shares changed hands on the BSE and NSE so far.
Income from operations grew 7.1% at Rs 812 crore on QoQ basis. EBITDA Margins for the quarter improved by 441 bps to 14.02% on sequential basis.
The positive impact of the rupee depreciation on EBITDA margins was around 60 bps to 70 bps during the quarter, KPIT said in a statement.
Analysts on an average had expected profit of Rs 42 crore on revenues of Rs 784 crore.
“The performance for the quarter has been satisfactory with good growth in Engineering and SAP and profitability improvement across all strategic business units (SBUs),” said Kishor Patil, Co-founder, CEO & MD, KPIT.
“Though there will be some impact due to lower billing days in Q3, we are confident about the sustainability of the operating performance and intend to improve further in the coming quarters,” he added.
At 10:08 am, the stock was up 12% at Rs 138 on the BSE. The trading volumes on the counter jumped more than four-fold with a combined 3.5 million shares changed hands on the BSE and NSE so far.