KPIT, has reported a net profit of Rs 70.6 crore during the second quarter of the current fiscal as against Rs 66.7 crore for the same quarter of last fiscal, representing a rise of 5.7% year on year.
Sales for the Pune-based IT consulting and product engineering solutions and services provider stood at Rs 757.4 crore and Rs 702.7 crore respectively in the two quarters under review. This translates into a growth of 7.8% YoY.
The highlights of Q2 ’15 include USD revenue rising 11.4% YoY to stand at $ 125 million, and strong growth in Automotive followed by SAP. The company expects to clock revenue of $ 500 million for the full year.
In a statement, Ravi Pandit, Chairman & Group CEO, KPIT said, “Our EBIDTA levels improved by 128 bps during the period though we believe we could improve it further during the rest of the year. Spending has returned well in the automotive and manufacturing industries.”
Asia continues to be the leader, with good growth in North America as well, during the quarter, he added.