KPIT net profit at ₹30.9 cr in March quarter

Technology firm, KPIT Technologies, has posted a consolidated net profit of ₹30.9 crore and revenue from operations of ₹501.2 crore for the quarter ended March 31.

For the corresponding quarter of 2018-19, its net profit was ₹55 crore, while revenue from operations was at ₹641.2 crore, according to a regulatory filing.

Last year, CK Birla Group-owned, Birlasoft and KPIT Technologies, had announced that they will merge and later split into two publicly-traded companies to create two specialised IT players.

After the demerger, the engineering business was incorporated on January 8, 2018, and listed on the BSE and the NSE as KPIT Technologies in April 2019.