KPIT Technologies shares plunge 20 per cent on weak Q4 results

KPIT Technologies shares were locked at 20 per cent lower circuit in early trade after the company reported disappointing Q4 results.

KPIT Technologies posted a net profit at Rs 50.3 crore for the fourth quarter ended March 31,2015, down 23 per cent quarter-on-quarter, media reports said.

The company had registerd a net profit of Rs 65.3 crore in the previous quarter.

Net revenues fell by 2.2 per cent on quarter to Rs 762 crore in the period under review.

EBITDA margins were at 5.26 per cent for the fourth quarter, as against 13.84 per cent in the previous quarter.

Shares of KPIT Technologies ended at Rs 124.05 on the BSE, down a whopping 19.99 per cent from the previous close.