KPIT Technologies net profit up 40% at 77.43 crore

Pune: IT consulting firm KPIT Technologies reported a profit of Rs 77.43cr for the quarter ended June 30th, 2018, up 39.6% over the corresponding quarter last year. The company reported revenues of Rs 1013.84cr, up 16.5 % year-on-year. In dollar terms, revenue was up 12% at $15054 mn. Reported EBITDA for the quarter was at 12.1%, a Y-o-Y growth of 54.5%.

Kishor Patil, CEO, KPIT said,” We continue to focus on improving profitability and growth. We improved our operational margins by 50 bps during the quarter. We are on track with respect to the milestones on the proposed merger and then demerger of IT and Automotive Engineering businesses. We truly believe this will continue to be a significant value creator for all stakeholders as it has been in the last one year.” Earlier in the year, the company had announced a transaction of merger and demerger involving KPIT and Birlasoft.

The growth during the quarter was led by the services business, engineering, digital technologies and Oracle. The overall digital revenues including digital in SAP and Oracle are about 31% of the business IT revenues of the company.