Mumbai, Auto industry-focused KPIT Technologies on Monday reported net profit rose 49 per cent to Rs 165.9 crore in the March quarter, helped by strong revenue growth and widening in profit margins.
The Pune-headquartered company's FY24 net profit rose to ₹ 598.51 crore from ₹ 386.8 crore in the year-ago period.
Its revenue increased by almost 30 percent to Rs 1,317 in the quarter under review. crore, while operating profit margin increased by 1.7 per cent to 20.7 per cent.
The company announced that it will target 18-22 per cent growth in topline in the new financial year, and achieve profit margin numbers above 20.5 per cent.Regarding the slow revenue growth target for FY2015, and if the company is being conservative, its co-founder, chief executive and managing director Kishore Pati told reporters that it has consistently shown growth of over 30 per cent in the last four years. Used to be. It is also true that many changes are taking place in this sector and it has taken a "pragmatic" decision on the expectations of the new year.
He said the auto original equipment manufacturer deals with spending on important projects and prefers to postpone work that can be avoided.
However, he said most of KPIT's work is in core technologies that are important to them.
The company reported new deal wins of US$261 million in the quarter under review.Patil said the company has created a new vertical to tap business opportunities from customers in the industrial and farm equipment sectors, which operate in close proximity to the auto industry.
It is doubling down on focus on China and India, he said, adding that both these countries currently contribute less than 3 percent to revenues.
Patil said that in FY2015, KPIT expects Asia to be the biggest growth driver, while the traditional geographies of the US and Europe will also perform well.
The company's total employee strength stood at 12,856 at the end of FY24, up from 12,727 in the quarter-ago period.
Without divulging exact numbers, Patil said the company will make 1,000 offers to graduating engineers in FY20 across the country.Shares of KPIT closed 6.57 per cent higher at Rs 1,508.50 on the BSE on Monday, compared with a gain of 1.28 per cent on the benchmark.
The Pune-headquartered company's FY24 net profit rose to ₹ 598.51 crore from ₹ 386.8 crore in the year-ago period.
Its revenue increased by almost 30 percent to Rs 1,317 in the quarter under review. crore, while operating profit margin increased by 1.7 per cent to 20.7 per cent.
The company announced that it will target 18-22 per cent growth in topline in the new financial year, and achieve profit margin numbers above 20.5 per cent.Regarding the slow revenue growth target for FY2015, and if the company is being conservative, its co-founder, chief executive and managing director Kishore Pati told reporters that it has consistently shown growth of over 30 per cent in the last four years. Used to be. It is also true that many changes are taking place in this sector and it has taken a "pragmatic" decision on the expectations of the new year.
He said the auto original equipment manufacturer deals with spending on important projects and prefers to postpone work that can be avoided.
However, he said most of KPIT's work is in core technologies that are important to them.
The company reported new deal wins of US$261 million in the quarter under review.Patil said the company has created a new vertical to tap business opportunities from customers in the industrial and farm equipment sectors, which operate in close proximity to the auto industry.
It is doubling down on focus on China and India, he said, adding that both these countries currently contribute less than 3 percent to revenues.
Patil said that in FY2015, KPIT expects Asia to be the biggest growth driver, while the traditional geographies of the US and Europe will also perform well.
The company's total employee strength stood at 12,856 at the end of FY24, up from 12,727 in the quarter-ago period.
Without divulging exact numbers, Patil said the company will make 1,000 offers to graduating engineers in FY20 across the country.Shares of KPIT closed 6.57 per cent higher at Rs 1,508.50 on the BSE on Monday, compared with a gain of 1.28 per cent on the benchmark.
