KPIT on Track to Beat FY23 Growth Outlook Backed by CC Revenue Growth of 44.7 Percent YOY and Net Profit Growth of 43.5 Percent YOY

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Business Wire India

KPIT Technologies (NSE: KPITTECH BSE: 542651), a leading partner for accelerating the transformation towards Software-Defined Vehicle to the automotive and mobility industry announced financial results for Q3 FY23 results today.

Performance overview

  • Q3 FY23 Revenue

    • Q3FY23 CC Revenue grows 44.7% YoY, 19.3% Q-o-Q

    • $ Revenue Growth of 31.9% Y-o-Y, 17.3% Q-o-Q

    • Organic CC Growth of 24.6% Y-o-Y and 4.9% Q-o-Q

    • Organic growth led by Middleware & Architecture Consulting and Passenger Car vertical.

    • Full quarter consolidation of Technica Engineering during the quarter​.

  • Q3 FY23 Net Profit and EBITDA

    • Q3FY23 Net Profit at Rs 1,005 MN

    • Net Profit growth of 43.5% Y-o-Y and 20.4% Q-o-Q

    • Q3FY23 EBITDA at 18.5%

    • EBITDA growth of 47.7% Y-o-Y and 22.9% Q-o-Q

  • ​​Marks 10 consecutive quarters of steady revenue and EBITDA growth

  • ​Talent

    • Global employee count crosses 10000.

    • Strong hiring pipeline globally to bring best talent for cutting edge client engagements.

TCV of new engagements won during Q3 FY23: $ 272 million
(Includes $ 100 Million from Mega Engagement with Renault)

Commenting on the performance of Q3 FY 23
 
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 healthy pipeline and demand driven by client investments in Software Defined Vehicles, gives us 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 a 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.”