Meanwhile, the S&P BSE Sensex was up 10.73 points or 0.06% at 19,398.23.
On BSE, 1.02 lakh shares were traded in the counter as against average daily volume of 42,102 shares in the past one quarter.
The stock hit a high of Rs 04 and a low of Rs 98.25 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 stock had underperformed the market over the past one month till 29 April 2013, rising 1.87% compared with the Sensex's 2.93% rise. The scrip had also underperformed the market in past one quarter, declining 15.24% as against Sensex's 3.02% fall.
The small-cap company has equity capital of Rs 38.56 crore. Face value per share is Rs 2.
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. The company announced Q4 results after market hours on Monday, 29 April 2013.
KPIT Cummins Infosystems' consolidated 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).
Commenting on the company's performance, Ravi Pandit, Chairman & Group CEO, KPIT Cummins Infosystems said, "We are pleased with our performance in FY 2013. We met the revenue guidance given at the start of the year and have also achieved the upward revised profit guidance. This performance is a result of better alignment of our value propositions with the needs of our customers and their confidence in our expertise. We expect revenue growth in FY 2014 to be industry beating again at 14-16% and estimate 16-20% growth in profits during the year. FY 2013 has placed us in a strong position as we pursue our goal of reaching $1 billion in revenues by FY 2017".
Kishor Patil, MD & CEO, KPIT Cummins Infosystems said, "Our IP led revenues doubled during the year, in line with our strategy to build on profitability with focus on non-linear revenues. We are confident of sustaining our growth momentum in FY 2014, with APAC geography growing at a faster pace alongside US. Our current pipeline and order book status confirms to our guidance for the new fiscal year and we will add around 1,000 people to our team in FY 2014. As a technology partner to global manufacturing companies, we are making investments in developing new solutions and platforms that will help customers build better products and win in the competitive marketplace. Moving further on our Cloud, Analytics, Social and Mobile (CAMS) strategy, in FY 2013 we added a high end SuccessFactors certified team in the US to boost our SAP cloud offerings, and continue to build solutions in the CAMS space".
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' board of directors at a meeting held on Monday, 29 April 2013, recommended dividend of 90 paise per share for FY 2013.
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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