Q4 Results: KPIT Technologies Sees Europe, Asia Businesses Driving Growth In FY20
IT services firm KPIT Technologies Ltd. expects its European and Asian businesses to aid growth for the financial year 2019-20.
“Our growth will be led by Asia and Europe businesses for the next financial year,” Kishor Patil, its managing director and chief executive officer told BloombergQuint. “...growth outlook is pegged at 16-18 percent for the period.”
The company, he said, is slated to become a $500-million company in terms of turnover in the next three to four years.
KPIT Technologies listed its information technology business in January this year, excluding its engineering division, as part of a three-step deal involving a merger and then a demerger with CK Birla Group’s Birlasoft.
Key Highlights (Q4)*
- Revenue up 3.6 times to Rs 501.3 crore.
- Net profit up 25.4 percent to Rs 30.1 crore.
- Ebitda up 2.1 times to Rs 61.6 crore.
- Margin at 12.3 percent versus 21.5 percent.
- Exceptional loss of Rs 34.3 crore.
- Employee expenses up 7.6 times to Rs 315.1 crore.
- Other income of Rs 35.5 crore.
*Numbers not comparable as the company got listed in January 2019.
Shares of the IT services firm rose nearly 1 percent in today’s trade compared to a flat Nifty Index.
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