On Tuesday, KPIT Technologies Ltd reported a significant 56.8% year-on-year increase in its consolidated net profit for Q1FY24, amounting to ₹133.9 crore. This was a notable improvement compared to the profit of ₹85.4 crore recorded in the same period last year. Additionally, the consolidated net profit showed a sequential growth of 20% from ₹111.6 crore in Q4FY23.
During the quarter ended in June, the company’s consolidated total revenue from operations witnessed an impressive rise of nearly 60% compared to the previous year, reaching ₹1,097.6 crores, as opposed to ₹685.7 crore in Q1FY23. Sequentially, the revenue also rose by 7.9%. The total income for the first quarter reached ₹1,119.1 crore, marking a significant increase from ₹701.6 crore in the year-ago period.
The revenue growth in constant currency terms for the quarter ended June (Q1FY24) was up by 51.7% year-on-year. The EBITDA (earnings before interest, taxes, depreciation, and amortization) also showed growth, rising to ₹214 crore from ₹182 crore in the same quarter of the previous year, while the margins increased to 19.5% from 17.9%.
Looking ahead, the company reaffirmed its FY24 guidance, expecting constant currency growth of 27%–30% and EBITDA margins of 19%–20%.
The shares of KPIT Technologies closed at Rs.