KPIT posts 44.7% YoY PAT growth for Q2 FY25

25 Oct 2024 CW Team

The company reiterated its outlook for FY25, anticipating 18-22% CC revenue growth and an EBITDA margin exceeding 20.5%. With a global team of over 13,000 automotive software specialists, KPIT remains committed to enhancing productivity and skill development, particularly through the use of AI for operational efficiency. Additionally, KPIT introduced industry-leading benefits, promotions, and salary increases to support its workforce.

Kishor Patil, Co-founder, CEO, and Managing Director of KPIT, expressed satisfaction with the Q2 FY25 performance, noting that the company had achieved another quarter of balanced growth. He acknowledged that the mobility industry, particularly the automotive sector, faced pressures to adapt to evolving regulations, reduce vehicle costs, and meet shifting consumer preferences.

Patil highlighted KPIT’s continued commitment to investing in technology and markets ahead of demand to help its top 25 clients remain at the forefront of innovation and competitiveness. He reaffirmed the company’s full-year revenue growth and profitability outlook and mentioned that the board had passed a resolution for fund-raising, in light of strategic opportunities on the horizon. However, he clarified that the actual fund-raising would proceed only once these potential prospects reached advanced discussion stages.

KPIT, a leading software integration partner for the automotive and mobility sectors, has reported strong financial results for Q2 FY25, showcasing significant growth across key metrics. The company recorded a 44.7% year-on-year (YoY) increase in profit after tax (PAT), marking its 17th consecutive quarter of growth. PAT for Q2 FY25 reached Rs 2037 million, aided by a one-time gain during the period. KPIT’s revenues stood at $173 million, reflecting constant currency (CC) growth of 20.1% YoY and a dollar revenue increase of 19.3% YoY. This growth was largely driven by advancements in the middleware and powertrain sectors, with notable contributions from the Asian market and the passenger car segment. KPIT reported an EBITDA margin of 20.8% for the quarter, marking a 27.7% YoY increase, and secured new engagements valued at $207 million during Q2 FY25. The company reiterated its outlook for FY25, anticipating 18-22% CC revenue growth and an EBITDA margin exceeding 20.5%. With a global team of over 13,000 automotive software specialists, KPIT remains committed to enhancing productivity and skill development, particularly through the use of AI for operational efficiency. Additionally, KPIT introduced industry-leading benefits, promotions, and salary increases to support its workforce. Kishor Patil, Co-founder, CEO, and Managing Director of KPIT, expressed satisfaction with the Q2 FY25 performance, noting that the company had achieved another quarter of balanced growth. He acknowledged that the mobility industry, particularly the automotive sector, faced pressures to adapt to evolving regulations, reduce vehicle costs, and meet shifting consumer preferences. Patil highlighted KPIT’s continued commitment to investing in technology and markets ahead of demand to help its top 25 clients remain at the forefront of innovation and competitiveness. He reaffirmed the company’s full-year revenue growth and profitability outlook and mentioned that the board had passed a resolution for fund-raising, in light of strategic opportunities on the horizon. However, he clarified that the actual fund-raising would proceed only once these potential prospects reached advanced discussion stages.

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