KPIT Technologies Q1FY24 results; PAT increased by a whopping 53%!

Today, KPIT Technologies declared its result for the first quarter ended on June 2023. KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart and connected future. With 10000+ Automobelievers across the globe, specializing in embedded software, AI & Digital solutions, KPIT enables customers to accelerate the implementation of next-generation mobility technologies. With development centres in Europe, USA, Japan, China, Thailand and India.  

On a consolidated basis for Q1FY24 in comparison to the same quarter last year, the company’s net profit for the first quarter which ended on June 30, 2023, increased by 53.37% to Rs 134.44 crore from Rs 87.66 crore. In Q1FY24, the company’s total net revenue increased by 59.51% from Rs 701.62 crore to Rs 1119.13 crore in a similar quarter the year prior.        

Sequentially, the company’s net profit for the quarter which ended on June 30, 2023, increased by 20.49% from Rs 111.58 crore. In Q1FY24, the company’s total net revenue increased by 9.33% from Rs 1023.63 crore in the similar quarter the year prior. 

Company’s Net Cash at the quarter end stood at Rs 5.26 billion post-acquisition payouts of Rs 2429 million (Technica, FMS and Somit).

The company also fixed a record date on August 14, 2023, for a Final Dividend of Rs 2.65 per equity share of face value of Rs 10 each for the FY23. 

Yesterday, the scrip closed at Rs 1056.60 today it opened at Rs 1078.50. It has a 52-week high of Rs 1159.95 and a 52-week low of Rs 510.05, closing the day at Rs 1057.45, up by 0.08%. The BSE group ‘B’ stock has a market capitalisation of around Rs 28,980 crore. Over the last 6 months shares of the company grew by 52.27% and in the last one year it has given a multibagger return of 104.06%. 

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