Q1FY23 Quarterly Result Announced for KPIT Technologies Ltd.
IT Consulting & Software firm KPIT Technologies Announced Q1FY23 Result : Q1FY23 CC Revenue grows 23% YoY Q1FY23 reports YoY Net Profit growth of 41%+ Q1FY23 Revenue $ Revenue Growth of 16.4% YoY and 3.2% QoQ Q1FY23 EBITDA at 19.4% against 18.6% last qtr. YoY EBITDA growth of 35.7%, 9.7% QoQ Net Profit at Rs 854 million Net Profit growth of 41%+ YoY, 8.3% QoQ New wins continue to be stronger TCV of $ 155 million won during the quarter Kishor Patil, Co-founder, CEO and MD, KPIT said,” The vehicle manufacturers are aiming to earn revenues over the life of the vehicle for sustainable growth. This change will be enabled by CASE and centralized architecture programs, essentially Software Driven Vehicles. KPIT is uniquely positioned as a software integrator, helping global OEMs accelerate this journey. We have started the year on a positive note with an all-round performance, with growth in-line with our plan and healthy margin expansion, despite cross-currency headwinds. We remain optimistic on the overall growth environment”. Sachin Tikekar, President and Joint MD, KPIT said,” It has been our goal to uphold all our client commitments and help our clients become successful, by leveraging technology. This relentless focus on our strategic clients continues to yield great results, resulting in larger, strategic engagements. Supply side pressures continue to persist, albeit at an eased pace. We have nurtured the existing partnerships and formed new ones with global universities to help attract global talent and aid retention by enabling career growth opportunities to our employees, with focused educational programs”. Result PDF26-07-2022