KPIT TECHNOLOGIES share price has plunged 6% and is presently trading at Rs 1,715.0.
Meanwhile, the BSE IT index is at 38,739.9 (down 4.7%).
Among the top losers in the BSE IT index today are Firstsource Solutions (down 8.1%) and Birlasoft (down 7.8%).
Over the last one year, KPIT TECHNOLOGIES has moved up from Rs 1,092.6 to Rs 1,715.0, registering a gain of Rs 622.4 (up 57.0%).
On the other hand, the BSE IT index has moved up from 30,586.1 to 38,739.9, registering a gain of 26.7% during the last 12 months.
The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 150.2%), INFIBEAM AVENUES (up 110.3%) and Firstsource Solutions (up 86.0%).
Must See: These Segments are Witnessing Incredible Growth with Modi's Push
The BSE Sensex is at 78,390.2 (down 3.2%).
The top losers among the BSE Sensex today are Tata Motors (down 6.8%) and Tata Steel (down 5.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.
In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.
Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,390.2, registering a gain of 11,930.9 points (up 18.0%).
KPIT TECHNOLOGIES net profit grew 52.4% YoY to Rs 2,048 million for the quarter ended June 2024, compared to a profit of Rs 1,344 million a year ago. Net sales rose 24.3% to Rs 13,646 million during the period as against Rs 10,976 million in April-June 2023.
For the year ended March 2024, KPIT TECHNOLOGIES reported 54.7% increase in net profit to Rs 5,985 million compared to net profit of Rs 3,869 million during FY23. Revenue of the company grew 44.8% to Rs 48,715 million during FY24.
The current Price to earnings ratio of KPIT TECHNOLOGIES, based on rolling 12 month earnings, stands at 70.2.
Equitymaster requests your view! Post a comment on "KPIT TECHNOLOGIES Plunges 6%; BSE IT Index Down 4.7%". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!