KPIT Technologies Q3 results: Deal wins are seen in $200-250 million range. KPIT may maintain its FY2024 revenue growth guidance of 37 per cent-plus in constant currency terms and also Ebitda margin outlook of 20 per cent.
KPIT Technologies on Tuesday reported a 55 per cent jump on a year-on-year (YoY) basis in the net profit at Rs 155.33 crore in the quarter ended on December 31, 2023.
Shares of multibagger KPIT Technologies Ltd have zoomed nearly 123% from their 52-week low hit in the beginning of this year. The multibagger IT stock touched its yearly low of Rs 676.15 on January 4, 2023. KPIT Technologies stock has recovered 122.70% from its 52-week low till date. The stock closed 0.75% lower at Rs 1505.80 in the current session. Despite the stellar rally in 2023, the IT stock is still down 8.15% from its record high of Rs 1639.60 reached on November 20 this year.
KPIT Technologies shares have gained without any commensurate fundamental catalyst, Kotak said. The domestic brokerage said a more nuanced understanding is required to forecast evolution of its addressable market.