KPIT shares down nearly 5 pc post Q3 earnings

Shares of IT firm KPIT today fell by nearly 5 per cent after the company's net profit increased marginally by 2.12 per cent for the quarter ended December 31.
The stock lost 4.55 per cent to end at Rs 138.35 on BSE. During the day, it went down by 6.17 per cent to Rs 136.
On NSE, shares of the company declined by 4.67 per cent to close at Rs 138.60.
In terms of volume, 3.35 lakh shares of the company were traded on BSE and over 36 lakh shares changed hands on NSE during the day.
IT firm KPIT yesterday said its net profit increased 2.12 per cent to Rs 73.58 crore for the quarter ended December 2016, compared to Rs 72.05 crore in the same period of the previous year.

Its sales grew 2.14 per cent to Rs 830.67 crore in the reported quarter from Rs 813.27 crore in the year-ago period.
"In the current quarter, despite lower working days, we had marginal growth on a comparable constant currency basis. We will continue to focus on growth with effective account management and new technology solutions for our focus verticals," KPIT co-founder CEO and MD Kishor Patil said.