KPIT Technologies zooms 8% as margins expand 150 bps YoY in Q4
Shares of KPIT Technologies zoomed nearly 8 per cent to Rs 209 apiece on the BSE on Thursday after the company posted better-than-expected March quarter results. The Pune-based IT services firm reported net profit of Rs 47 crore for the fourth quarter ended March 31, 2021 up 23.6 per cent year-on-year. Sequentially, profits were up 9.3 per cent. The company reported operating margin expansion by 150 basis points due to improvement in utilisation and offshore revenues. Margins expanded from 13.5 per cent YoY on cost-saving measures. The company is targeting to keep the operating profit margi...
Source: business-standard.com