KPIT Q2 Results: FY24 Guidance Raised After Revenue Surges Nearly 10%
KPIT Technologies' revenue rose 9.3% over the previous three months to Rs 1,199 crore in the quarter ended Sept. 30.
KPIT Technologies Ltd. has raised its growth guidance for the ongoing fiscal after earnings in the July-September quarter met estimates.
Revenue of the Pune-based auto-tech company rose 9.3% over the previous three months to Rs 1,199 crore in the quarter ended Sept. 30, according to an exchange filing on Monday. That compares with the Rs 1,158.31-crore consensus estimate of analysts tracked by Bloomberg.
KPIT Technologies Q2 Results: Key Highlights (QoQ)
Revenue up 9.3% at Rs 1,199 crore (Estimate: Rs 1,158.31 crore)
EBIT up 13.6% at Rs 192 crore (Estimate: Rs 175.73 crore)
EBIT margin at 16% vs 15.4% (Estimate: 15.17%)
Net profit up 5.2% at Rs 141 crore (Rs 132.48 crore)
The company now expects to grow at 37% in constant currency terms in the fiscal ending March 31, 2024, as against 27-30% estimated earlier. Operational profitability is seen in excess of 20% as against 19-20% earlier.
