KPIT Cummins Infosystems is trading higher 4% at Rs 122 after reporting a better-than-expected 157 bps improvement in operating margins at 16.66% for the second quarter ended September quarter (Q2) against the company’s target of around 50 bps on quarter on quarter basis (q-o-q).
“Our EBITDA or operating margins improved to 16.66% as against 15.09% in Q1FY13, an increase of 157 bps. The increase in EBITDA margins is on account of operational efficiencies and leverage due to growth,” KPIT Cummins Infosystems said in a filing.
Meanwhile, the company has reported 10% q-o-q drop in its consolidated net profit at Rs 46.12 crore due to forex loss of Rs 21.34 crore. Net sales however, increased to Rs 567 crore from Rs 538 crore during the recently concluded quarter.
The stock opened at Rs 119 and hit a high of Rs 123 on the NSE. A combined 256,373 shares have changed hands on the counter till early noon deals.
