InvestorQ : How do you view the latest results of KPIT Technologies for the Jun-20 quarter?
Niti Shenoi made post

How do you view the latest results of KPIT Technologies for the Jun-20 quarter?

Answer
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Archita Jajjoo answered.
1 month ago


KPIT Technologies based out of Pune reported 22% fall in net profit at Rs.24.20 crore for the Jun-20 quarter. KPIT had net revenues from operations at 2.6% lower of Rs.492.7 crore. This is largely in line with the street expectations and the management also expressed satisfaction with the performance of the company during the quarter.

KPIT basically creates software for the mobility industry and that segment has been stabilising and hence most companies had showed enhanced interest in the product offerings of KPIT. Many of its clients have been prioritising investments in electric power-trains, autonomous driving and digital cockpits, all leading to higher business for KPIT.

KPIT had closed two large deals in consecutive quarters now and stayed optimistic about growth and improvement in operating parameters from the September quarter onwards. In the first quarter, with COVID in full swing, the focus was more on meeting existing commitments to clients and avoiding cash burn.