Pune based IT firm KPIT Technologies recorded 54 per cent sequential rise in net profit at ₹155.3 crore. On a year-on-year(YoY) basis, profits hiked by 10 per cent.

Revenue from operations stood at ₹1256 crore, registering a 35 per cent YoY growth and 4.8 per cent QoQ growth. Revenue growth led by Powertrain, Autonomous, and Connected domains. Growth led by Passenger Vehicles in Europe & Asia, said the company.

Kishor Patil, Co-founder, CEO, and MD of KPIT Technologies, said, “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 the 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, he added.

EBITDA margin expanded to 20.6 per cent from 20 per cent in Q2 FY24, up 200 bps Y-o-Y, after adding 600 freshers and quarterly promotions. Margin expansion led by improved productivity and operating leverage coupled with better-realized rates.

TCV of new engagements won during Q3 FY24 stood at $189 million. Employee count stood 12700 from 11971 last quarter.

Sachin Tikekar, President and Joint MD of KPIT Technologies, said, “We are witnessing broad-based traction across technologies, clients, sub-verticals and geographies. We are increasing our strategic engagements in the quest to move towards being Trusted Partners for our strategic clients.”

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