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KPIT
KPIT Cummins Infosystems (KPIT) reported its 2QFY2012 results, which were
lower than our as well as street expectations. USD revenue came in at
US$70.4mn, up 0.4% qoq. The company has transferred its business from the
financial services vertical to Intrasoft Technologies; so on a like-to-like basis,
revenue grew by 4.6% qoq. In INR terms, revenue came in at `325cr, up 2.8%
qoq. On a like-to-like basis, INR revenue grew by 7.1% qoq. The company’s
EBITDA margin improved by 110bp qoq to 13.6%, below expectations, due to
higher G&A expenses because of expenses incurred for the transaction done
of the financial services vertical. PAT stood at `36.5cr, aided by higher other
income, which includes net income from the transaction carried out during the
quarter. The stock is currently under review and we will be releasing a detailed
result update shortly.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
KPIT
KPIT Cummins Infosystems (KPIT) reported its 2QFY2012 results, which were
lower than our as well as street expectations. USD revenue came in at
US$70.4mn, up 0.4% qoq. The company has transferred its business from the
financial services vertical to Intrasoft Technologies; so on a like-to-like basis,
revenue grew by 4.6% qoq. In INR terms, revenue came in at `325cr, up 2.8%
qoq. On a like-to-like basis, INR revenue grew by 7.1% qoq. The company’s
EBITDA margin improved by 110bp qoq to 13.6%, below expectations, due to
higher G&A expenses because of expenses incurred for the transaction done
of the financial services vertical. PAT stood at `36.5cr, aided by higher other
income, which includes net income from the transaction carried out during the
quarter. The stock is currently under review and we will be releasing a detailed
result update shortly.
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