KPIT Technologies, a leading IT consulting and product engineering solutions and services provider, witnessed a sharp fall in share price on Wednesday after the company disclosed a 22.99% drop in consolidated net profit on sequential basis at Rs 503.08 million from Rs 653.3 million on quarter on quarter basis.
Net sales for the quarter fall 2.18% to Rs 7.63 billion, compared with Rs 7.8 billion on quarter on quarter basis.
Shares of the company are trading at Rs 124.05, down Rs 31, or 19.99% at the Bombay Stock Exchange (BSE) on Wednesday at 12:15 p.m. The scrip has touched an intra-day high of Rs 138 and low of Rs 124.05.
Total volume of shares traded on the bourses today was higher by 466.39% to 2,350,356 compared with 22-day average volume of 414,969.