KPIT Second Quarter Results FY 2017
Posted by: Clara Fernandes at 10/19/2016 07:43:00 am
Q2FY17 Revenues grow 3.77% Q-o-Q in CC terms, 3.05% USD growth
Q2FY17 Revenues at USD 123.43 million
Q2FY17 EBITDA grew by 6.7% Q-o-Q, EBITDA Margin at 11%
Investor Release BSE: 532400 | NSE: KPIT
India, October 19, 2016: KPIT (BSE: 532400; NSE: KPIT), a global technology company specializing in providing IT Consulting and Product Engineering solutions and services to Automotive, Manufacturing, Energy and Utilities companies, today reported its consolidated financial results for the second quarter and half year ended September 30, 2016.
Highlights for the quarter ended September 30, 2016
· In INR terms, revenue grew by 3.45% Q-o-Q to INR 8,309.84 million
· $ revenue grew by 3.05% Q-o-Q
· EBITDA margins for the quarter at 11%
· PAT for the quarter stood at INR 561.8 million, a Q-o-Q growth of 2.05%
Commenting on the performance of Q2 FY17, Ravi Pandit, Co-founder, Chairman & Group CEO, KPIT said “Over the last one year we have been investing in growth, specifically in account management and new sales. We are also investing in creation of technologies for software automation, digital technologies and industry specific solutions in engineering and business IT. We are beginning to see the reflection of these efforts into our quarterly numbers and we are confident of seeing more of it in the coming quarters.”
Kishor Patil, Co-founder, CEO & MD, KPIT said, “The quarter performance has been slightly better than our expectations with growth being led by Products & Platforms, Engineering and Digital Transformation. Though the ERP business was flattish during the quarter, we are seeing good traction in newer areas like SAP HANA, S4 HANA, SFSF and Oracle Cloud. In Products & Platforms, we are near to the end of our investment phase for existing products. We are finding greater acceptance for our products in the market which are at the cusp of profitable growth in this business.”
About KPIT Technologies Ltd.
KPIT (BSE:532400, NSE: KPIT) is a global technology company specializing in providing IT Consulting and Product Engineering solutions and services to Automotive, Manufacturing, Energy & Utilities and Life Sciences companies. Together with its customers and partners, it creates and delivers technologies to enable creating a cleaner, greener, more intelligent world that is sustainable and efficient. For more information, visit http://www.kpit.com