INSUBCONTINENT EXCLUSIVE:
Our Bureau
Pune
Pune based IT consulting and product engineering company KPIT reported a profit after tax of Rs 76cr for the quarter ended
March31,2018, up 23.2% quarter on quarter, and 41.6% year on year
The revenue for the quarter was Rs up 6% sequentially and 12.6% YoY.
The company also announced its annual results for FY18
Profit after tax was up 6.02 % at Rs 252.8cr and revenues up 10.3% at Rs 3665.5cr
In dollar terms revenue was up 14.8% at $567.7mn.
The company declared a growth outlook of 8%-10% in USD revenue for FY19.
Ravi Pandit,
We will continue to invest in future technologies relevant for our customers
announced a merger and demerger between itself and Birlasoft, a part of the CK Birla Group
The merger of KPIT and Birlasoft will create a USD 700+ Million entity which will immediately demerge into two separate companies -- KPIT
Technologies (USD 220+ mnllion revenue company, post-merger), which will evolve from the existing engineering business at KPIT and Birlasoft
(a USD 500+ mn revenue company, post-merger), a new digital business IT services company focusing on the mid-tier IT space formed by
FY18 registering a healthy growth of ~15%
We have seen reassuring margin improvement in Business IT during the year
