KPIT Technologies posts Q3 net profit of Rs 42.8 cr

New Delhi, Jan 29 () Tech firm KPIT Technologies on Wednesday posted a consolidated net profit of Rs 42.8 crore for the quarter ended December 2019.

The company had reported a net profit (attributable to owners of the company) of Rs 35.9 crore in the preceding July-September period, KPIT Technologies said in a regulatory filing.

Its revenue from operations stood at Rs 550.09 crore for the quarter under review as compared to Rs 544 crore in the preceding three-month period, it added.

The numbers are not comparable on year-on-year basis. In 2018, CK Birla Group-owned Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players. Advertisement

"The automotive and mobility sector is investing in upcoming technologies, despite falling vehicle sales. Riding on this, we have demonstrated a strong year-to-date Q3FY20 constant currency growth of 15.5 per cent and a consistent improvement in net cash position," KPIT co-founder, CEO and MD Kishor Patil said.

The company has declared an interim dividend of 55 paise per share, Patil said.
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"We are assertive of growth and consistent profitability improvement, going forward," he added.

Its headcount was at 7,303 people at the end of December 2019 quarter. SR RVK
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