 "KPIT Technologies surges post Q1 results")
Shares of KPIT Technologies surged 9% to Rs 116 on the BSE after the information technology (IT) company said that its operating profit margins improved by 510 basis points during the quarter ended June 30, 2015 (Q1) over the previous quarter.
“The EBITDA (earnings before interest, taxes, depreciation and amortization) margins for Q1FY16 were around 9.6% compared with about 4.5% for Q4FY15,” KPIT Technologies said in a statement.
The company's net profit during the quarter, however, declined by 11.7% at Rs 44 crore on a sequential basis, while sales remained flat at Rs 758 crore over the previous quarter.
The stock opened at Rs 112 and touched a high of Rs 121 on the BSE. The trading volumes on the counter more than doubled, with a combined 4.68 million shares changing hands on the BSE and NSE till 10:20 am.
“The EBITDA (earnings before interest, taxes, depreciation and amortization) margins for Q1FY16 were around 9.6% compared with about 4.5% for Q4FY15,” KPIT Technologies said in a statement.
The company's net profit during the quarter, however, declined by 11.7% at Rs 44 crore on a sequential basis, while sales remained flat at Rs 758 crore over the previous quarter.
The stock opened at Rs 112 and touched a high of Rs 121 on the BSE. The trading volumes on the counter more than doubled, with a combined 4.68 million shares changing hands on the BSE and NSE till 10:20 am.
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