 "KPIT Technologies surges on strong Q2 results")
KPIT Technologies has surged 8% to Rs 167 in early morning deals on National Stock Exchange (NSE) after reporting a 128 basis points expansions in EBITDA or operating margins to 13.34% in September quarter from 12.06% in last quarter.
Consolidated net profit for the quarter grew by 38.89% quarter-on-quarter to Rs 70.55 crore helped by revival in spending in the automotive and manufacturing sectors. The company had profit of Rs 50.80 crore in June quarter.
Operational income of the company increased 9.7% to Rs 757 crore on sequential basis.
“We strengthened our pipeline further during the quarter and believe that the growth momentum will continue in H2, though Q3 will be a seasonally weak quarter. We expect to clock revenues of $ 500 + Million for the full year, though profitability in H1 has been lower than expected,” said Kishor Patil, Managing Director & CEO, KPIT.
The stock opened at Rs 169 and touched a high of Rs 171 on NSE. A combined 698,815 shares changed hands on the counter so far on NSE and BSE.
Consolidated net profit for the quarter grew by 38.89% quarter-on-quarter to Rs 70.55 crore helped by revival in spending in the automotive and manufacturing sectors. The company had profit of Rs 50.80 crore in June quarter.
Operational income of the company increased 9.7% to Rs 757 crore on sequential basis.
“We strengthened our pipeline further during the quarter and believe that the growth momentum will continue in H2, though Q3 will be a seasonally weak quarter. We expect to clock revenues of $ 500 + Million for the full year, though profitability in H1 has been lower than expected,” said Kishor Patil, Managing Director & CEO, KPIT.
The stock opened at Rs 169 and touched a high of Rs 171 on NSE. A combined 698,815 shares changed hands on the counter so far on NSE and BSE.
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