For FY25, the company maintains 18-22% growth in revenue and EBITDA margin above 20.5%.
23 Oct 2024 | 6053 Views | By Autocar Professional Bureau
KPIT Technologies reported a 44.7% year-on-year increase in profit after tax to ₹2,037 million for the second quarter ended September 30, 2024, marking its 17th consecutive quarter of growth. The automotive software integration company's revenue grew 20.1% in constant currency terms to $173 million, driven by middleware and powertrain domains.
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KPIT Technologies reported a 44.7% year-on-year increase in profit after tax to ₹2,037 million for the second quarter ended September 30, 2024, marking its 17th consecutive quarter of growth. The automotive software integration company's revenue grew 20.1% in constant currency terms to $173 million, driven by middleware and powertrain domains.
The company maintains 18-22% constant currency growth in revenue and EBITDA margin above 20.5% for FY25. EBITDA margin for Q2 stood at 20.8%, showing sequential growth of 5.6%.
KPIT secured new engagements worth $207 million during the quarter, with growth primarily coming from Asia geography and the passenger car vertical. The company's global employee count exceeded 13,000.
"We are happy to have delivered another quarter of well-balanced growth," Kishor Patil, CEO and MD of KPIT Technologies said. He noted that the company has taken an enabling board resolution for fund-raising to pursue strategic opportunities, adding that actual fundraising would occur only when potential prospects reach advanced discussion stages.
President and Joint MD Sachin Tikekar said the company's investments in trucks and off-highway sub-verticals are progressing to expand market opportunities. "Our attrition remains at the lowest level for us, while we commit to further investments in competency and leadership development," he added.
The company reported strong performance in its T25 client base, with efforts to broad-base growth showing results. KPIT continues to focus on productivity improvements through AI implementation and has rolled out long-term benefits, promotions, and increments.
KPIT Technologies is an independent software development global partner to the automotive and mobility ecosystem making software-defined vehicles. With engineering centers in Europe, the USA, Japan, China, Thailand, and India, KPIT works with leaders in automotive and mobility and is present where the ecosystem is transforming.