Financial Daily from THE HINDU group of publications
Tuesday, Aug 12, 2003
Financial Daily from THE HINDU group of publications Tuesday, Aug 12, 2003 |
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Info-Tech
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Software KPIT Cummins expands board Our Bureau
Pune , Aug. 11 TO leverage more business from global markets, KPIT Cummins Infosystems Ltd is increasing the number of Cummins India nominees on its board. The company has added three more alternate directors from Cummins India taking the total to six. It already handles close to 85 per cent of Cummins embedded and business IT areas. Addressing the shareholders at the annual general meeting of the company, Mr Ravi Pandit, Chairman and Group CEO, said the company, which had its focus on manufacturing and BFSI (banking, financial services and insurance) segments was targeting a turnover of Rs 100 crore for the current fiscal. He said the company would continue to focus on these two verticals as also a select set of clients to bring in the volumes. Mr Pandit said KPIT Cummins had completed the first year of operation of the merged entity resulting in a top line growth of 51 per cent year-on-year. Offshore revenues increased to 36 per cent as against 26 per cent last year and the bottom line growth was over 245 per cent year-on-year.
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