KPIT Technologies falls on earnings

Reuters Market Eye - Shares in KPIT Technologies Ltd fell as much as 8 percent, heading towards their biggest single day drop since January 2014.

KPIT Technologies on Tuesday reported April-June net profit fell 17 percent.

Analysts attributed the fall in profit to weak revenue growth, fall in margins due to wage hike, acquisition impact, visa costs and currency appreciation.

"The management was confident of strong improvement in revenue momentum from September ending quarter," Prabhudas Lilladher said in a report to clients.

(Reporting by Dipika Lalwani)