KPIT Technologies Q2 net profit rises 28% to Rs 83 crore; revenue up 17.2%

Auto industry-focused engineering services company KPIT on Wednesday reported a 28 per cent jump in its September quarter net profit at Rs 83.56 crore, helped by a strong revenue growth.

The Pune-headquartered company also upped its revenue growth guidance for FY23 to 31-32 per cent, saying it does not see a major impact of the current set of macro challenges playing out into its business.

It reported a 17.2 per cent growth on the overall revenues during the reporting quarter at Rs 754.32 crore as against Rs 599.81 crore in the preceding year.

The operating profit margin came at 18.5 per cent as against 17.6 per cent in the year-ago period, and 19.4 per cent in the preceding June quarter.