KPIT Technologies Q2 Net Profit Falls 28.7% Year on Year
KPIT Technologies reported a 28.7% year-on-year decline in second-quarter net profit, citing budget cuts by European and Japanese automakers and forex losses.
Our Bureau Bengaluru: Midsize engineering services company KPIT Technologies reported a 28.7% year-on-year fall in second-quarter net profit, hurt by budget cuts by European and Japanese automakers, which are among its largest customers, as well as forex losses. Sequentially, net profit rose 2.9…