KPIT CUMMINS Not Able to Decide Wait Till March End

The financial performance for the quarter ended 31st Dec 2008 was not too bad, if one decides to ignore the forex losses it has not provided for. But it is precisely this concern, of burgeoning forex loss which would come at the end of the year which has kept the stock price low.
The company posted a YoY 22% rise in revenue at Rs.184.52 crore. EBITDA was up 21% at Rs.28.67 crore and net profit rose 19% at Rs.16.87 crore. QoQ, the performance was flat, with a 55 fall in topline and thanks to reduction in selling and distribution expenses, it more or less maintained the net profit at the same levels as in Q2FY09.
It added 3 new customers during the quarter, taking the total number of customers to 126. It added 106 new employees and this takes the total headcount at the end of Q3 FY09 at 4867.
The stock could see some fancy come back only after the March results. Till then, the stock would remain range bound at around same levels. thanks