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Axis Securities Report
KPIT Technologies Ltd. reported revenue of Rs 1,257 crore in Q3 FY24, up 4.8% QoQ and 37% YoY (in constant currency terms) which stood above our expectations.
The company’s operating profit stood at Rs 209 crore, reporting an encouraging growth of 9% on a QoQ basis. This was also above our expectations.
KPIT’s operating margins expanded 60 basis points to 21%, supported by strong volume growth and a favorable currency mix, which is commendable.
The company’s net profit for Q3 FY24 stood at Rs 155 crore, registering a growth of 10% on a QoQ basis.
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