As compared to Q4 FY23, the company's net profit and revenue increased by 47.27% and 29.53%, respectively.
Profit before tax was at Rs 224.48 crore in the quarter ended 31 March 2024, up 6.09% QoQ and 64.81% YoY.
EBITDA stood at Rs 272.87 crore in Q4 FY24, registering a growth of 5.56% QoQ and 40.47% YoY. EBITDA margin was at 20.7% in Q4 FY24 as against 20.6% recorded in Q3 FY24 and 19.1% posted in Q4 FY23.
During the quarter, constant currency (CC) revenue growth was at 5.1% QoQ and 27.6% YoY. In dollar terms, revenue growth was 28.5% YoY and 6.6% QoQ.
Total contract value (TCV) of total deals won during the quarter was $261 million.
The total headcount as on 31 March 2024 was at 12,856.
The firm's net profit jumped 56.05% to Rs 594.53 crore on 44.77% increase in revenues to Rs 4,871.54 crore in the year ended March 2023 over the year ended March 2022.
With respect to outlook for FY25, KPIT Technologies said that CC revenue growth is expected in the range of 18% to 22% and EBITDA margin to be over 20.5%.
Kishor Patil, co-founder, CEO and MD of KPIT said, “We have consistently delivered fifteen sequential quarters of healthy growth in revenues and operating profits. Software content inside and outside the vehicle is growing in areas of alternate fuel technologies, autonomous and connectivity. Global OEMs are pledged to changing their business model. Basis committed investments by our strategic clients, a strong pipeline and solid wins of $261 million in Q4, we continue to witness robust demand. We start FY25 on a strong footing and expect to deliver CC revenue growth of 18%-22% with EBITDA margins of 20.5%+.”
Sachin Tikekar, president and joint MD of KPIT said, "We start FY25 on back of a solid Q4 and FY24 operational performance. We are uncompromising on our focus on strategic client partnerships, technology innovations, people and zero-defect deliveries. We will pivot our investments on enhancing domain practices and sharpen our focus on commercial vehicles and Asia strategy. We have launched a new ESOP scheme to strengthen the long term incentivization for our people. Our internal sustainability goals have been set and the prime focus in FY25 would be on execution towards achieving these goals.”
Meanwhile, the board has recommended a final dividend of Rs 4.60 per equity share for the financial year ended 31 March 2024, subject to the approval of shareholders.
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.