KPIT Tech net profit declines 28%; recovery in H2
KPIT Technologies reported a 28% sequential decline in net profit to Rs 116.41 crore for the June quarter. KPIT’s revenue decreased by 2% to Rs 1,675 crore. In constant currency terms, revenue declined 3.6% on a quarter-on-quarter basis. In dollar terms, the quarter’s revenue was $ 176 million. KPIT’s EBIT margin decreased to 12.3% compared to 15.9% in the preceding quarter. EBITDA for the quarter reduced by 13% to Rs 287.77 crore.
