KPIT expects Q4 dollar revenue to remain flat; stock falls

KPIT Technologies today said it expects revenue in dollar terms to remain flat in March quarter of FY'15 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 on BSE.
For the whole year, the cross currency impact will be more than 1 per cent of 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 profit after tax (PAT) for FY15 as compared to FY14.
However, it remains positive about the growth prospects for FY16 and beyond.
The company's shares slipped 5.87 per cent to close at Rs 193.20 on the Bombay Stock Exchange on Tuesday.