KPIT Q4 net profit rises 23.6% YoY to Rs 47 cr, revenue dips 3.8%

Pune-based IT services firm KPIT reported net profit of Rs 47 crore for the fourth quarter ended March 31, 2021 up 23.6 per cent year-on-year and sequentially profits were up 9.3 per cent.

Revenue for the quarter dipped 3.8 per cent at Rs 546.6 crore for the fourth quarter of FY21. Revenue grew sequentially by 4.4 per cent.

The company reported operating margin expansion by 150 basis points due to improvement in utilisation and offshore revenues.

In US dollar terms KPIT rep5.1 per cent QoQ.

The company said that the revenue growth momentum will continue in FY22. The growth is expected to be broad based across practices and clients. The company in a statement said they have a healthy order book and decent medium-term visibility, giving them confidence of double-digit growth in FY22