Leading AI and automotive solutions provider engaged in the business of offering embedded software, product engineering services, and many more jumped 5 percent in the day’s trade following strong Q3FY24 results and Interim Dividend
With a market capitalization of Rs. 40,025 Crores, the shares of KPIT Technologies Limited were trading at Rs. 1,464.80, up 4.10 percent from its previous day’s close price of Rs. 1,407.15 Crores.
Its revenue from operations grew by 37.05 percent YoY from Rs. 917.11 Crores in Q3FY23 to Rs. 1,256.96 Crores in Q3FY24 and it grew 4.82 percent QoQ from Rs. 1,199.15 Crores in Q2FY24 to Rs. 1,256.96 Crores in Q3FY24.
Its Net Profit grew by 50.64 percent YoY from Rs. 104.05 Crores in Q3FY23 to Rs. 156.75 Crores in Q3FY24 and it grew 10.85 percent QoQ from Rs. 141.4 Crores in Q2FY24 to Rs. 156.75 Crores in Q3FY24.
In addition to this KPIT Technologies Limited has declared an interim dividend of Rs. 2.10 per equity share and has fixed February 9, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
KPIT Technologies Limited is a global technology company, engaged in the business of offering embedded software, product engineering services, and AI & Digital solutions to automotive players in the market.
It has reported a return on equity (ROE) of 25.7 percent and a return on capital employed (ROCE) of 30.2 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 39.47 percent stake, the Domestic Institutional Investors hold 11.60 percent and the Foreign Institutional Investors (FII) hold 26.48 percent.
Written by: Bharath K.S
In Short:- KPIT Technologies Limited jumped 5% following Q3FY24 results with a 50.64% YoY jump in net profit from ₹ 104.05 Crores to ₹ 156.75 Crores and its revenue grew 37.05% YoY from ₹ 917.11 Crores to ₹ 1,256.96 Crores. It has also declared an interim dividend of ₹ 2.10 and fixed February 9, 2024, as the record date.
