KPIT Cummins Infosystems surged 3.42% to Rs 107.25 at 12:50 IST on BSE, with the stock extending 5.97% rally triggered by the firm forecasting about 16-20% growth in its profit after tax in the range of Rs 230.90 crore to Rs 238.80 crore in FY 2014.
Meanwhile, the S&P BSE Sensex was up 253.39 points or 1.3% at 19,757.57.
On BSE, 1.14 lakh shares were traded in the counter as against average daily volume of 44,957 shares in the past one quarter.
The stock hit a high of Rs 108.40 and a low of Rs 104 so far during the day. The stock had hit a record high of Rs 142 on 12 September 2012. The stock had hit a 52-week low of Rs 84 on 30 April 2012.
The small-cap company has equity capital of Rs 38.62 crore. Face value per share is Rs 2.
Shares of KPIT Cummins Infosystems have rallied 9.6% in two trading sessions from Rs 97.85 on 29 April 2013, after the company at the time of announcement of Q4 March 2013 results after market hours on Monday, 29 April 2013, forecasted about 16-20% growth in its profit after tax (PAT) in the range of Rs 230.90 crore to Rs 238.80 crore in FY 2014. The stock had surged 5.97% to settle at Rs 103.70 on Tuesday, 30 April 2013. The stock market was closed on Wednesday, 1 May 2013, on account of Maharashtra Day.
KPIT Cummins Infosystems' consolidated net profit rose 17% to Rs 51.17 crore on 18.7% growth in revenue to Rs 569.86 crore in Q4 March 2013 over Q4 March 2012. EBITDA (earnings before interest, taxation, depreciation and amortization) margin stood at 17.7% in Q4 March 2013.
KPIT Cummins Infosystems' consolidated net profit jumped 36.9% to Rs 199 crore on 49.2% growth in revenue to Rs 2238.63 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).
In its guidance for FY 2014, the company had forecasted a revenue growth of about 14% to 16% in the range of $465 million to $475 million in FY 2014. Profit after tax (PAT) to see a growth of about 16% to 20% in the range of Rs 230.90 crore to Rs 238.80 crore in FY 2014, KPIT Cummins Infosystems said in a statement. The company further added that it is also confident of generating a positive cash flow for FY 2014, after considering the balance payments for the existing M&A deals.
KPIT Cummins Infosystems is a global IT consulting and product engineering company focused on co-innovating domain intensive technology solutions for manufacturing corporations (with special focus on Automotive, Hi-Tech & Industrials verticals).
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