KPIT Tech Q3 Results Updates, KPIT is a global technology company with software solutions that will help mobility leapfrog towards autonomous, clean, smart and connected future.
With 6000+ Automobelievers across the globe, specializing in embedded software, AI & Digital solutions, KPIT enables customers accelerate implementation of next generation mobility technologies . With development centers in Europe, USA, Japan, China, Thailand and India.
KPIT Technologies Limited has reported Consolidated financial results for the period ended December 31, 2022.
Financial Results (Q3 FY2023) – QoQ Comparison
The company has reported total income of Rs. 938.174 crores during the period ended December 31, 2022 as compared to Rs. 754.322 crores during the period ended September 30, 2022.
The company has posted net profit / (loss) of Rs. 100.490 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 83.480 crores for the period ended September 30, 2022.
The company has reported EPS of Rs.3.68 for the period ended December 31, 2022 as compared to Rs. 3.06 for the period ended September 30, 2022.
Financial Results (Q3 FY2023) – YoY Comparison
The company has reported total income of Rs.938.174 crores during the period ended December 31, 2022 as compared to Rs.630.917 crores during the period ended December 31, 2021.
The company has posted net profit / (loss) of Rs.100.490 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.70.010 crores for the period ended December 31, 2021.
The company has reported EPS of Rs.3.68 for the period ended December 31, 2022 as compared to Rs.2.56 for the period ended December 31, 2021.
KPIT Tech also announced interimn dividend of rupees 1.45 in Q3 fy23. Last time company announced dividend in june quarter.
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KPIT Tech Q3 Results : Management Outlook
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.”