KPIT Technologies Limited share price surged as much as 10 per cent on Friday after the company’s second quarter profit rose 69 per cent sequentially to Rs 75.08 crore on strong improvement in operating profit performance.
At 11.08 am, the share price of the company was 10.94 per cent up at Rs 136.85. BSE Sensex was trading 222.96 points up at 27,510.62 during the same time. The share price of the company later closed 9.32 per cent up at Rs 134.85.
The company’s revenue rose 7.1 per cent quarter-on-quarter to Rs 812.25 crore and dollar revenue grew by 5.3 per cent to $124.57 million in the quarter gone by. Operating profit (earnings before interest, tax, depreciation and amortisation) rose 57.1 per cent to Rs 113.24 cr and margin expanded by 444 basis points to 13.94 per cent in quarter ended September 2015 despite wage hikes.