KPIT posts 812.99 crore revenues in Q3

Pune based IT consulting company KPIT posted revenues of Rs 812.99 crore for the Q3FY16, a quarter on quarter increase of 0.09 per cent and year on year, 4.26 per cent. Dollar revenue for the quarter stood at $123.28 million, a Q-o-Q decline of 1.04 per cent.

Ravi Pandit, Co-founder, Chairman & Group CEO, KPIT said, "We continue to invest in growth areas, specifically in vertical led front end, domain expertise and newer technologies and expect the results of these investments to start flowing in from H2FY17 onwards." He added, "We are building a healthy pipeline in newer technology areas like Digital Technologies and decent growth areas like engineering." The EBIDTA margin improved by 57 bps to 14.59 per cent.

Kishor Patil, Co-founder, CEO & MD, KPIT said, "We are satisfied with the operating performance during the quarter and are on track to exit the year at 15 per cent EBITDA, as targeted at the start of the year. Though the Products & Platforms business is relatively new and there are seasonal variations, we have made good progress in the areas of hybrid/electric solutions, telematics and Infotainment, which should lead to a more consistent growth in the future."