IT Consulting & Software company KPIT Technologies announced Q1FY24 results: Reported USD Revenue growth of 49% YoY, 8.2% growth QoQ Net Profit at Rs 1,340 million, grows 20.1% QoQ, and 56.9% YoY EBITDA margin at 20%, YoY EBITDA growth of 65.2%, QoQ 13.3% USD 190 million worth of engagements closed in the quarter; Healthy Pipeline level across practices 7.1% CC growth CC Revenue grows 51.7% YoY Kishor Patil, Co-founder, CEO, and MD, KPIT said, "We have started the year on a positive note and have delivered a robust all-round performance in line with our expectations of a stronger first half. Opportunities remain stronger as mobility players continue to invest in new technologies, in the areas of electrification, vehicle autonomy, connectivity, and personalization. We have a healthy pipeline and are slightly ahead in the ramp-up of the mega strategic engagements announced last year. This gives us a fair medium-term visibility and we are confident of reaching our stated outlook of revenue growth and operating margins for FY2024”. Sachin Tikekar, Co-founder and Joint MD, KPIT said, "We are experiencing greater traction with our strategic clients as we move further in creating trusted partnerships with our clients to help them accelerate their transformation. The attrition has been consistently falling over the last 3 quarters. We are investing in improving the quality of hires and building the right competencies and technologies to enable flawless execution. We have started baselining sustainability and co-creating a roadmap with our employees and look forward to scaling our impact in creating a cleaner, smarter, safer world in the years to come through our offerings, operations, and employees.” Result PDF
Conference Call with KPIT Technologies Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company KPIT Technologies announced Q4FY23 & FY23 results: Q4FY23: Reported USD Revenue growth of 42.1% YoY 8.5% CC growth, 12.1% reported USD growth in QoQ basis EBITDA at 19.1%, 60% YoY growth Net Profit at Rs 1,116 million, 41.5% YoY growth Q4FY23 CC Revenue grows 50% YoY FY23: Reported USD Revenue Growth of 27.4%, FY23 Reported Revenue USD 418 million EBITDA at 18.9%, growth of 45% over FY22 Net Profit at Rs 3,810 million, 39% growth over FY22 FY23 Revenue grows 36.7% in CC terms Commenting on the performance of FY23, Ravi Pandit, Co-founder and Chairman, KPIT said, "The Mobility Industry is one of the larger contributors to global carbon footprint. Huge investments are being made and planned towards a sustainable future. We are proud to be intensely involved in this over the years and we will be a major technology led contributor towards this transformation. We are committed to achieve our vision of creating a Cleaner, Safer and Smarter world. FY23 was another satisfying year of sustainable growth and margin expansion, and we are excited and confident about our performance going forward." Kishor Patil, Co-founder, CEO and MD, KPIT said, "We have consistently delivered eleven sequential quarters of healthy growth in revenues and operating profits. On the back of a solid quarter and year performance and basis recent mega engagements and committed spend on software by our Strategic Clients, we are witnessing robust demand and increased visibility for the next 3-4 years. We are focused on helping our clients create new business models to transform their business. We start FY24 on a strong footing and expect to deliver CC revenue growth of 27%-30% with EBITDA margins between 19%-20%." Result PDF
IT consulting & software firm KPIT Technologies announced Q3FY23 results: Q3FY23: Q3FY23 Revenue Growth of 31.9% YoY, 17.3% QoQ. Q3FY23 Revenue Organic CC Growth of 24.6% YoY and 4.9% QoQ. Q3FY23 Net Profit at Rs 1,005 million.Net Profit growth of 43.5% YoY and 20.4% QoQ. Q3FY23 EBITDA at 18.5%. EBITDA growth of 47.7% YoY and 22.9% QoQ. Engagements & Outlook on track to beat FY23 growth outlook TCV of US$ 272 million won during the quarter. Higher other income to the tune of ~ Rs 90 million (Rs 185 million in Q3FY23 vs Rs 95 million in Q2FY23) on account of translation related foreign exchange gains resulting mainly from strong rupee depreciation against the Euro and GBP Net Cash at the quarter end stood at Rs 6.75 billion post Acquisition related payout of Euro 60 Million which was done solely through internal accruals. DSO stood at 51 days. Interim Dividend of Rs 1.45 per share declared. Kishor Patil, Co-founder, CEO and MD, KPIT said,” KPIT’s focus over the last 20+ years on the Mobility Industry is resulting in consistent growth and robust medium-term visibility. Q3FY23 performance has been better than expectations. Our performance, coupled with a healthy pipeline and demand driven by client investments in Software Defined Vehicles, gives us the confidence of beating our FY23 growth outlook. We are pleased to have the Technica family on board KPIT and contemplate scaling greater heights together. These are exciting times, and we look forward to sustainable profitable growth in the medium term.” Sachin Tikekar, President and Joint MD, KPIT said,” Our engagements with Strategic Clients are progressively becoming more pertinent and partnership oriented. We are committed to investments in new-age technologies, relevant to the Mobility Industry, to further strengthen our solutions for accelerating the transformation journey of our clients. Our attention is on ensuring successful delivery of large complex engagements, that are also critical to the success of our clients. The employee turnover has shown a declining trend over last 2 quarters. We expect this trend to stay, going forward. We continue to focus on attraction, development and retention of relevant talent, across the globe.” Result PDF
Conference Call with KPIT Technologies Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.