Comments
IT company KPIT Cummins has posted a 26.44 per cent rise in consolidated net profit at Rs 46.12 crore for the quarter ended September 30, compared with a net profit of Rs 36.47 crore registered during the same period a year ago.
During the quarter under review, the company’s revenues rose 74.51 per cent to Rs 567.20 crore (Rs 325.01 crore), it said in a statement.
“We are happy with the revenue performance that we have delivered this quarter with an EBITDA margin that has improved in line with our projections. During this quarter, we saw significant growth coming from the APAC region and we expect the geography to continue a healthy growth through H2,” said Ravi Pandit, Chairman & Group CEO.
“The global economic uncertainties have continued, resulting in delayed business decision making. However, we believe our sharp focus and investments in select verticals should keep us in good stead to achieve our annual guidance,” he added.
The company, which provides product engineering and IT consulting services, said its EBITDA margin for the quarter improved to 16.6 per cent (13.6 per cent).
Cummins, the joint venture partner in the company and its largest customer, contributed 19.70 per cent to the revenues during the quarter.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.