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KPIT Technologies posts Q4 net profit at Rs 50.31 cr

By Religare
|

Shares of KPIT Technologies Ltd, an India-based provider of software development were trading at Rs 124.05 apiece, down nearly 20 per cent after it announced that it has posted a 23 per cent quarter on quarter decline in its consolidated net profit at Rs 50.31 crore for the quarter ended March 2015 as against a profit of Rs 65.33 crore in December 2014 quarter on account of macro-economic conditions like significant cross currency movements as well as conflicts in the energy vertical due to lower oil prices, among others.

 

The net revenues of the company also engaged in the production of integrated systems product engineering solutions fell by 2.2 per cent at Rs 762 crore on sequential basis for the quarter ended March 2015.

EBITDA margins stood at 5.26 per cent against 13.84 per cent in previous quarter.

According to the filing by KPIT, "The cross currency impact for the full year will be more than 1 percent of annual revenues. Thus the revenue guidance for FY15 will be met on constant currency terms but will be proportionately lower in terms of dollar reported revenue,"

Story first published: Wednesday, April 29, 2015, 23:00 [IST]
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