KPIT Second Quarter Results FY 2019

KPIT (BSE: 532400; NSE: KPIT), a global technology company specializing in providing IT Consulting and Product Engineering solutions and services to AutomotiveManufacturingEnergy and Utilities companies, today reported its consolidated financial results for the second quarter and half year ended September 30, 2018.

Highlights for the quarter ended September 30, 2018

  • ₹Revenues grow 6.4% Q-o-Q and 17.8% Y-o-Y
  • Net Profit for the quarter registers a Y-o-Y growth of 37.4%
  • Operational EBITDA for the quarter at 15.2%
  • Reassuring increase in Pipeline, led by large deals in Engineering
  • BMW today announced KPIT as a technology partner for Autonomous Driving (Please read the full release here)

  Management comments

Commenting on the performance of Q2 FY19, Kishor Patil, Co-founder, CEO & MD, KPIT said, “The quarter gone by witnessed solid improvement in operating margins despite wage hikes, driven by operating efficiencies and better quality of revenues. We are on track to achieve our annual revenue guidance and exceed the annual operating margins guidance. The Merger Demerger process is progressing well, as per planned timelines.”

Sachin Tikekar, President and Board Member, KPIT said, “Engineering and Digital revenues continue to grow at a much faster rate for us. We expect the trend to continue during the remainder of the year. We are progressing well on the business familiarization process with Birlasoft and are happy with the cultural and value similarities between the two organizations.”

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