KPIT Technologies dropped 4.86% to Rs 137 at 11:40 IST on BSE after consolidated net profit fell 2.12% to Rs 73.49 crore on 0.09% rise in revenue to Rs 812.99 crore in Q3 December 2015 over Q2 September 2015.
The result was announced after market hours yesterday, 20 January 2016.Meanwhile, the BSE Sensex was down 85.79 points, or 0.36%, to 23,976.25.
On BSE, so far 65,720 shares were traded in the counter, compared with an average volume of 1.98 lakh shares in the past one quarter. The stock hit a low of Rs 136.70 and a high of Rs 146.90 so far during the day. The stock hit a 52-week low of Rs 85.05 on 25 June 2015. The stock hit a record high of Rs 232.70 on 23 January 2015. The stock had underperformed the market over the past one month till 20 January 2016, sliding 13.85% compared with Sensex's 5.71% fall. The scrip had, however, outperformed the market in past one quarter, rising 17.12% as against Sensex's 11.88% fall.
The mid-cap company has an equity capital of Rs 39.49 crore. Face value per share is Rs 2.
KPIT Technologies said that the EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved by 0.57% to 14.59% in Q3 December 2015 compared with 14.02% in Q2 September 2015 despite the loss in revenue due to furloughs.
Commenting on the performance of Q3 December 2015, Ravi Pandit, Co-founder, Chairman & Group CEO, KPIT said, the company continued to invest in growth areas, specifically in vertical led front end, domain expertise and newer technologies and company expects the results of these investments to start flowing in from second half of the year ending 31 March 2017 (FY 2017) onwards.
Kishor Patil, Co-founder, CEO & MD, KPIT said, that the company is satisfied with the operating performance during Q3 December 2015 and is on track to exit the year ending 31 March 2016 (FY 2016) at 15% EBITDA, as targeted at the start of the year.
More From This Section
KPIT Technologies is a vertical focused IT consulting and product engineering solutions and services provider to automotive & transportation, manufacturing and energy & utilities.
Powered by Capital Market - Live News