India's KPIT Technologies up 2% on surge in March quarter profit

KPIT Technologies

26/04/2023 09:23

** Shares of KPIT Technologies  KPIE.NS  rise over 2% to
870.4 rupees
    ** Technology firm reports 42% rise in consolidated net
profit to 1.12 bln rupees in March quarter
    ** Revenue rises to 10.17 bln rupees compared with 6.52 bln
rupees a year earlier
    ** Earnings before interest, taxes (EBIT) up at 1.42 bln
rupees from 967 mln rupees YoY
    ** Co recommends final dividend of 2.65 rupees per share for
FY23
    ** Stock rose as much as 5.28% ahead of results, before
trimming some of the gains
    ** Trading volume is 3.13 mln shares as of 1:44 p.m. IST,
nearly same as the 30-day avg of 3.22 mln shares - Refinitiv
data
    ** Of the 10 analysts tracking KPIE, six maintain "buy",
three suggest "sell" and one recommends "hold"; median PT is
732.50 rupees




 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))