KPIT Tech Shares Surge 10% Despite Q1 Profit Decline

KPIT Tech shares rose 10% after reporting June quarter results, despite a 29% sequential decline in net profit to ₹116 crore and a 2% revenue drop to ₹1,675 crore.

The company's EBITDA margins narrowed by 270 basis points to 11.3%, though management expects improvements in future quarters driven by AI-led productivity and a strong deal pipeline of $257 million.

The stock, which traded at ₹659 following the announcement, remains down over 45% year-to-date after the company warned earlier this month of a 1% year-on-year revenue decline.