KPIT Technologies zooms 8% as margins expand 150 bps YoY in Q4

Shares of KPIT Technologies zoomed nearly 8 per cent to Rs 209 apiece on the BSE on Thursday after the company posted better-than-expected March quarter results. The Pune-based IT services firm reported net profit of Rs 47 crore for the fourth quarter ended March 31, 2021, up 23.6 per cent year-on-year. Sequentially, profits were up 9.3 per cent. 

The company reported operating margin expansion by 150 basis points YoY due to improvement in utilisation, offshore revenues and other cost-saving measures. Margins expanded from 13.5 per cent reported in the previous year. The company is targeting to keep the operating profit