As compared to Q1 FY24, the company's net profit and revenue increased by 52.36% and 24.33%, respectively.
Profit before tax was at Rs 276.7 crore in the quarter ended 30 June 2024, up 23.26% quarter on quarter (QoQ) and 56.66% year on year (YoY).
EBITDA stood at Rs 288.16 crore in Q1 FY25, registering a growth of 5.60% QoQ and 30.97% YoY. EBITDA margin improved to 21.1% in Q1 FY25 as against 20.7% in Q4 FY24 and 20% in Q1 FY24.
During the quarter, constant currency (CC) revenue growth was at 24.8% YoY. In dollar terms, revenue growth was at 23.1% YoY, driven by Middleware, Powertrain and Asia
Total contract value (TCV) of total deals won during the quarter was $202 million.
The total headcount as on 30 June 2024 was at 13,253.
Kishor Patil, co-founder, CEO and MD of KPIT said, “We have started the year on a positive note with an all-round robust performance. While the mobility industry is going through certain pressures on the demand and profitability fronts, we are proactively investing in creating relevant large, differentiated offerings to support our clients reduce their costs and time-to-market. We are also investing in adjacencies and newer geographical markets. We expect creation of meaningful growth opportunities via both these investments and continue with the growth momentum, paving way for a fair demand visibility in the medium term.”
Sachin Tikekar, Co-founder and Joint MD, KPIT said, "Our attention remains on making software defined vehicles (SDV) a reality for our clients, so that they realize its benefits. We are working on productivity and competency improvement aided by AI, to improve our competitiveness and offer differentiated offerings to clients. The attrition numbers continue to drop further, justifying our continual investments in overall people development.”
Meanwhile, the board has approved the merger of Future Mobility Solutions GmbH (FMS) with KPIT Technologies GmbH, wholly owned step-down subsidiaries of KPIT Technologies (KPIT India).
The company said that this merger will further aid seamless collaboration within the teams and open up new larger opportunities with enhanced roles and responsibilities to the employees and at the same time boost leverage the systems, processes & tools for a seamless operating experience.
Further, the firm’s board has also approved the acquisition of another 13% shareholding in N-Dream AG (N-Dream) to take the total shareholding of KPIT to 26% in N-Dream, a cloud based game aggregation platform company, based in Switzerland. The cost of acquisition is 3 million euros and it will be completed by 20 August 2024.
Post acquisition KPIT India will be holding 26% of shares of N-Dream with an option to increase shareholding over a period of time, it added.
KPIT Technologies is a technological company focused on automobile engineering and mobility solutions. The company offers technology solutions to automobile OEMs under different practices such as power trains (conventional and electrical), connectivity, autonomous (vision and control systems) and diagnostics. Each of its practice areas offer software IP, software integration, feature development, and verification and validation services.