The shares of this global technology company that specializes in providing product engineering solutions gained 7.5 percent to Rs 1,213.45 a share after the company announced strong September quarter results.
At 1:46 p.m., KPIT Technologies Ltd shares were trading at Rs 1,175 per share, up Rs 45.50 or 4.12 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of Rs 32,152 crore.
KPIT Technologies Ltd reported a 60 percent increase in revenue year on year, from Rs 754 crore in Q2FY24 to Rs 1,208 crore in the corresponding quarter of the previous year, Q2FY23. During the same period, net profit increased by 69 percent from Rs 83.5 crore to Rs 141 crore.
In comparison to the previous quarter, operational revenue increased 8 percent from Rs 1,191 crore in Q1FY24 to Rs 1,208 crore in Q2FY24, Further net profit has increased by 5.2 percent from Rs 134 crore to Rs 141 crore. According to the company’s exchange filing.
The company’s order book for the quarter was $156 million, down from $190 million reported in Q1. Strategic accounts, passenger car vertical, electric powertrain, autonomous driving, and digitally linked solutions practice dominated in deal wins.
KPIT Technologies Ltd shares have delivered returns of 25 percent in six months and 65 percent in a year.
According to the recent shareholding pattern, the company promoters hold 39.47 percent of the company, Foreign institutional investors hold a 25.69 percent stake, Domestic institutional investors hold 12.25 percent and retail investors hold a 21.46 percent stake.
KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart, and connected future.KPIT enables clients to accelerate the implementation of next-generation mobility technologies.
Written by Omkar Chitnis
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