Stock price of KPIT up, despite of weak Q1 results

On July 21, stock price of KPIT has risen by more than 6 per cent,after their Q1FY17 results were out. The results were announced on July 20, after the market hours.Consolidated revenue of the company has declined by 4.61 per cent to Rs 803 crore in Q1FY17 from Rs 841 crore in Q4FY16. 

Whereas the EBITDA has declined by almost 35 per cent and PAT has declined by 37.5 per cent to Rs 55 crore in Q1FY17 from Rs 89 crore in Q4FY16. Meanwhile the consolidated revenue of the company has grown by almost 6 per cent from Rs 758 crore in Q1FY16; while the PAT has grown by 35 per cent from Rs 44 crore in Q1FY16 to Rs 55 crore in Q1FY17. During the quarter the company has witnessed a sequential growth of 3.4% in APAC (Asia Pacific); whereas there was a decline of 6.47% and 2.64% in US and Europe geographies respectively. On a YoY (year on year) basis, US has grown by 2.49%, Europe has grown by 16.03% and APAC  has grown by 10.05%.

KPIT Technologies is a technology solutions partner for global manufacturing corporations with special focus on Automotive, Energy & Utilities,Industrial equipment, and Semiconductor industries.