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.
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