KPIT Cummins surges on strong FY14 earnings guidance
The company forecasted about 16-20% growth in its net profit for the financial year 2013-14.
KPIT Cummins Infosystems is trading higher by 7% to Rs 104 in otherwise subdued market after the company forecasted about 16-20% growth in its net profit for the current financial year 2013-14 (FY14).
The mid-sized IT consulting and software firm has guided profit after tax in the range of Rs 231 crore to Rs 239 crore in FY14.
“FY14 dollar revenue to be in the range of $465 million to $475 million, a growth of around 14%-16%,” KPIT Cummins Infosystems said in a statement.
Meanwhile, the company has reported 1.5% quarter-on-quarter (qoq) growth in net profit at Rs 51.16 crore for the quarter ended March 2014, while income from operations grew 1.2% at Rs 570 crore on sequential basis. EBITDA margin expanded 218 bps to 17.7% during the recently concluded quarter.
The stock opened at Rs 100 and hit a high of Rs 106 on NSE. A combined 1.24 million shares have changed hands on the counter so far on NSE and BSE.
The mid-sized IT consulting and software firm has guided profit after tax in the range of Rs 231 crore to Rs 239 crore in FY14.
“FY14 dollar revenue to be in the range of $465 million to $475 million, a growth of around 14%-16%,” KPIT Cummins Infosystems said in a statement.
Meanwhile, the company has reported 1.5% quarter-on-quarter (qoq) growth in net profit at Rs 51.16 crore for the quarter ended March 2014, while income from operations grew 1.2% at Rs 570 crore on sequential basis. EBITDA margin expanded 218 bps to 17.7% during the recently concluded quarter.
The stock opened at Rs 100 and hit a high of Rs 106 on NSE. A combined 1.24 million shares have changed hands on the counter so far on NSE and BSE.