The shares of KPIT Technologies traded between gains and losses after it clocked better-than-expected results in the third quarter ended December.
The scrip, after opening 1.59% higher, pared gains and traded 1.95% lower. Total volume stood at 3.1 times the 30-day average.
The relative strenth index stood at 65. Of the 13 analysts tracking the stock, seven maintained ‘buy’, four analysts recommended ‘hold’, while two suggested ‘sell’. The return potential of the stock is 1%.
KPIT Technologies Q3 FY23 (Consolidated, QoQ)
- Revenues up 23.13% at Rs 917.12 crore (Bloomberg estimate: Rs 894.52 crore)
- Ebit up 21.17% at Rs 158.66 crore (Bloomberg estimate: Rs 124.1 crore)
- Ebit margins at 17.3% vs 17.58% (Bloomberg estimate: 13.87%)
- Net profit up 20.38% at Rs 100.49 crore (Bloomberg estimate: Rs 96.27 crore)
- The board approved interim dividend of Rs 1.45 per share.
