KPIT Technologies Ltd share Price Today

IT Consulting & Software company KPIT Technologies announced Q3FY24 results:

Financial Highlights

• Revenue from Operations: Q3FY24 revenue stood at Rs 12,569.62 million, a significant increase from Q3FY23 which was Rs 9,171.15 million, marking a YoY growth of 37.0%.
• EBITDA: The EBITDA for Q3FY24 was Rs 2,585.06 million compared to Rs 1,698.65 million in Q3FY23, showing a YoY increase of 52.2%.
• Net Profit (PAT): The net profit for Q3FY24 reached Rs 1,553.31 million, an increase of 54.6% over Q3FY23's figure of Rs 1,004.90 million.
• Earnings Per Share (EPS): Basic and Diluted EPS for Q3FY24 were at Rs 5.73 and Rs 5.69, respectively.

Operational Highlights

• Revenue Break-up by Geography: US (31.1%), Europe (45.9%), and Asia (10.6%).
• Client Metrics: Strategic Client Revenue stands at 85%, with a total Active Client count of 60 at period end.
• Employee Headcount: Development staff numbered 11,949 with an additional 778 in Enabling & Sales, totaling 12,727.

Strategic Wins

• New engagements won amounted to a Total Contract Value (TCV) of $189 million during the quarter.

Kishor Patil, Co-founder, CEO, and MD: "We continue to focus on execution relentlessly and have been consistently reaping the benefits of our focus on the mobility industry, key technologies, key clients, and key talent. The Q3FY24 revenues have been in line with our expectations, while we have delivered slightly ahead of expectations on the profitability front. Basis our performance so far, robust pipeline, and the consistency of demand driven by new technology investments by our strategic clients, we are confident of meeting our upward revised outlook for the year."

Sachin Tikekar, President and Joint MD: "We are witnessing broad-based traction across technologies, clients, sub-verticals, and geographies. We are increasing our strategic engagements to become Trusted Partners for our strategic clients. As we have seen over the last 4 quarters, the attrition continues to fall and is now at historically low levels. We have significantly moved the needle in our quest for inclusive sustainability across KPIT. We have increased our investments in new technologies and competency development to enable us to deliver complex engagements, successfully."

Result PDF