Shares of KPIT Cummins were locked at the 20% upper price circuit, also a record high, after the company, on Monday, posted consolidated net profit up 66% on year at Rs.437.1mn in the quarter ended Mar 31, 2012.
“Our performance in the last two years positions us well to achieve a run rate of $500 million by the last quarter of FY’13 and strengthens our vision to be a $1-billion company by the year 2017,” reports said quoting KPIT Cummins’ Chairman and Group CEO, Ravi Pandit.
Shares of KPIT Cummins were locked at Rs.102.35, up 20% over the previous close. It had touched a day’s low of Rs.89. The total traded quantity stood at 15.33 lakh shares on the BSE.