Home / Companies / Company Results /  KPIT Technologies declares interim dividend as Q3 net profit soars 70%

KPIT Technologies reported a consolidated net profit of 70 crore for the December quarter, higher by 70% as against 42 crore in the last year quarter.

Revenue from operations, meanwhile, rose to 622 crore during the period under review, up 20% from a year ago. The same was 517 crore in the December quarter of last year.

The company's board has also announced an interim dividend of 1.25 a share for the current financial year. The company has fixed 11 February as the record date to determine the eligibility of the shareholders to pass on the dividend.

During the third quarter, KPIT revenue in dollar terms grew by 20% year-on-year. The company has also raised its annual EBITDA (earnings before interest, tax, depreciation and amortisation), with yearly EBITDA to be around 18%.

Kishor Patil, CEO and MD, KPIT said," The demand environment in the Mobility Industry continues to be robust, especially in the newer technology areas led by electrification, autonomous, connected and architecture changes. Our strategic clients have a medium-term roadmap of sustained investments in these areas, giving us a healthy growth visibility for the next 4-5 years."

"We are forming the right partnerships within the ecosystem to accelerate our journey towards achieving our Vision. The growth during the quarter was in line with our expectations and we continue to deliver on margin improvement and cash conversion relentlessly. As we enter the last quarter of the financial year, we are confident of delivering on the higher end of our revised yearly outlook and begin the next year on a strong footing," he added.

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