IT Consulting & Software company KPIT Technologies declares Q3FY22 result: KPIT Q3FY22 USD Revenue grows 20% YoY Net Profit growth of 67.6% Q3FY22 CC Revenue growth of 21.2% YoY 5.6% QoQ Q3FY22 EBITDA at 18.5% as against 17.6% last quarter Net Profit for the quarter at Rs 700 million as against Rs 651 million last quarter, QoQ growth of 7.5% Net Cash as at quarter end crosses the Rs 10 billion mark. Interim Dividend of Rs 1.25 per share Annual EBITDA outlook raised, Yearly EBITDA to be around 18% Kishor Patil, CEO and MD, KPIT said,” The demand environment in the Mobility Industry continues to be robust, especially in the newer technology areas led by electrification, autonomous, connected and architecture changes. Our strategic clients have a medium-term roadmap of sustained investments in these areas, giving us a healthy growth visibility for the next 4-5 years. We are forming the right partnerships within the ecosystem to accelerate our journey towards achieving our Vision. The growth during the quarter was in line with our expectations and we continue to deliver on margin improvement and cash conversion relentlessly. As we enter the last quarter of the financial year, we are confident of delivering on the higher end of our revised yearly outlook and begin the next year on a strong footing.” Result PDF
Conference Call with KPIT Technologies Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Financial Highlights: Q2FY22 USD Revenue grows 23.02% Y-o-Y Increase in Revenue and Profit outlook for the year FY2022 Revenue growth outlook increased to 18% - 20% FY2022 EBITDA margin outlook raised to 17.5+% Q2FY22 EBITDA at 17.6% as compared to 17.3% last quarter post full quarter impact of wage hikes Net Profit for the quarter at Rs. 651 million as against Rs. 602 million last quarter, Y-o-Y growth of 134%, Q-o-Q, 8.1% Q2FY22 reported revenue at USD 80.36 million, a CC growth of 4.8% Q-o-Q Kishor Patil, CEO and MD, KPIT said,” We are witnessing a robust demand environment resulting in strong order inflow and pipeline. With improved business visibility, we have increased our revenue and profit outlook for the year. Our strategic partnership with ZF will improve our positioning and further cater to the upcoming high spend areas of mobility companies. Q2FY22 was the fifth sequential quarter of margin expansion, despite higher-than-average increments during the quarter. We will continue to focus on productivity improvement, people retention and development and strengthening of front-end to enable us improve our overall performance on an ongoing basis”. Sachin Tikekar, President and Whole-time Director, KPIT said,” While we are improving our operating performance every quarter, we continue to build upon our strategic initiatives of Platforms & Practices, Zero Defect Deliveries, Best Place to Grow and T25 Strategic Relationships. Through the CTO organization, we are continually strengthening our Practices with the right Platforms, Tools and Accelerators. We have increased coverage of Culture of Excellence Trainings and Individual Development Plans, building on the Best Place to Grow. We have made client facing investments and have deployed afresh, a Client Engagement Framework to further strengthen our strategic client relationships. We are excited about helping our clients accelerate their journey towards a cleaner, safer and smarter world”. Result PDF