KPIT reports net profit growth of 49.8% and USD revenue growth of 6.7% sequentially in Q3 FY2020-21

Pune, India | 28th Jan 2021 | NSE: KPITTECH BSE: 542651: KPIT, a leading independent software development and integration partner to the automotive industry announced financial results for Q3 FY 2020-21 today.

KPIT reported a growth in net profits of 49.8% sequentially and revenue growth (in USD terms) of 6.7% sequentially.

Significant highlights of the results include:

  • Q3FY21 EBITDA at 15.7% as compared to 14.3% last quarter
  • Net Profit for the quarter at ₹ 418 million as against ₹ 279 million last quarter
  • Q3FY21 reported revenue at USD 69.72 million, a CC growth of 6.5% Q-o-Q
  • Net Cash as at the quarter end stood at ₹ 6,295 Million as compared to ₹ 5,278 at the beginning of the quarter

Commenting on the results, Kishor Patil, Co-founder, CEO and MD, KPIT said,” Our depth and experience in Electric Powertrain, Autonomous Driving and Digital Cockpit areas are helping us gain traction within our strategic clients. The Automotive and Mobility industry is prioritizing investments in new age technologies and we are at the forefront of technology in these areas. We had a handsome growth in revenues and profits this quarter and we are confident of continuing with the growth and margin improvement momentum going into the next quarter”.

The financial performance improved holistically with:

  • Sequential growth of 6.7% led by electric powertrain and Europe geography. Execution started on the large deals won in earlier quarters
  • Operating Margin (EBITDA) expansion of 140 bps post salary restoration. Improvement in utilization, offshore revenues, consolidation of facilities
  • Sequential net profit growth of ~50% led by higher operating margins, lower depreciation, and higher yields on cash
  • High cash conversion continues with DSO at an all-time low of 58 days. 8th consecutive quarter of increase in net cash

“We continue to deepen our strategic engagements with our T25 clients, with emphasis on creating tremendous value for them through leadership in our Practices (via Platforms, Tools and Accelerators), delivery excellence and making KPIT the Best Place to Grow for our employees. Our operating performance is also trending in the right direction on the back of larger strategic engagements and overall productivity improvements ” said, Sachin Tikekar, President and Whole-time Director, KPIT

Investor Update Q3 FY2020-21 – Download Here

About KPIT:

KPIT is a global technology company with software solutions that will help mobility leapfrog towards autonomous, clean, smart and connected future. With 6000+ Automobelievers across the globe, specializing in embedded software, AI & Digital solutions, KPIT enables customers accelerate implementation of next generation mobility technologies. With development centers in Europe, USA, Japan, China, Thailand and India. KPIT works with leaders in mobility and is present where the ecosystem is transforming.

For more details visit www.kpit.com

Contacts:

Media:

Mohit Kochar
Global Head, Marketing | mohit.kochar@www.kpit.com

Sunil Ravish
Director – Marketing | sunil.r@www.kpit.com

Investors:

Sunil Phansalkar

Head, Investor Relations | Sunil.Phansalkar@www.kpit.com

Download KPIT logo/ Images/ Media Resources from : KPIT Newsroom

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