KPIT Technology's net profit jumps 41 pc in fourth quarter

New Delhi [India], April 26 : KPIT Technologies on Wednesday posted a 41.49 per cent in its net profit to Rs 111.60 crore during the March quarter, against Rs 78.88 crore in the year-ago period. Net sales were at Rs 1,017.37 crore in March 2023, which was up 56.09 per cent from Rs 651.77 crore in March 2022.

Earnings before interest, taxes, depreciation, and amortisation (Ebitda) was Rs 188.56 crore in March 2023 up 40.25 per cent from Rs 134.45 crore in March 2022. KPIT Tech's earnings per share (EPS) has increased to Rs 4.13 in March 2023 from Rs 2.92 in March 2022.

KPIT Tech has given 19.51 per cent returns over the last six months and 62.49 per cent over the last 12 months.

The IT company's net profit rose 11.2 per cent sequentially to Rs 111.6 crore versus Rs 100.4 crore in Q3 FY23.

The revenue for the quarter ended March, was up 11 per cent quarter-on-quarter to Rs 1,020 crore from Rs 919 crore in Q3FY23.

According to KPIT Technologies' exchange filing, the board has recommended a final dividend of Rs 2.65 per share of Rs 10 each (26.5%) for FY22-23.

"The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Compes Act, 2013 and the Rules made thereunder. The record date for the purpose of payment of the final dividend will be determined later and will be communicated to the stock exchanges separately," said the company in its exchange filing.

Shares of KPIT Technologies surged nearly 7 per cent and was trading near its 52-week high levels on Wednesday's intraday session after the company approved a final dividend of Rs 2.65 per share.

KPIT Technologies is an Indian multinational corporation which provides embedded software and product engineering services to automotive compes. Popularly known as KPIT, the company is headquartered in Pune and has development centres in Europe, USA, Japan, and China, apart from India.

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