KPIT Technologies Q2 Profit Soars 44% to Rs 204 Crore

New Delhi, Oct 23 (PTI) Automobile-industry focused KPIT Technologies has recorded a 44 per cent rise in consolidated net profit to Rs 203.7 crore in the September quarter.

It reported a net profit of Rs 141.4 crore in the year-ago period, according to a regulatory filing.

Revenue the quarter under review stood at Rs 1,471.4 crore, up 22.71 per cent from Rs 1,199 crore in the July-September of FY24.

As compared to the previous quarter, its revenues rose 7.8 per cent while profits fell 0.19 per cent.

The company closed USD 207 million worth of engagements during the September 2024 quarter, it said in a statement.

"The Mobility Industry, specifically the Automotive sub vertical, has been under pressure to keep up with the changing regulations, reduce cost of vehicles and meet demands of the ever-changing consumer preferences in recent times.

"We continue to prioritise investments in technology and markets ahead of demand to help our T25 clients stay on the cutting edge of technology and competitiveness, basis which, we reiterate our revenue growth and profitability outlook for the full year," KPIT co-founder, CEO and MD Kishor Patil said.

The Pune-headquartered company had given FY25 outlook, in constant currency terms, of revenue growth of 18-22 per cent range and EBITDA margin at over 20.5 per cent.

KPIT has taken an enabling board resolution for fundraising in view of some of the "strategic opportunities on the horizon", Patil added.

"The actual fundraise will happen only when some of these potential prospects are in advanced stages of discussion."

Shares of KPIT settled 3.43 per cent down at Rs 1,632.25 apiece on the BSE.