KPIT profit for the 1st quarter

KPIT, a leading developer of software deterministic vehicles, reported a 41.79 percent rise in net profit to Rs 85.43 crore in 1Q2023 from Rs 60.25 crore in the corresponding period in 1Q23. the growth of electric transmission, architecture and middleware.

According to Kishar Patil, Co-Founder, CEO and MD, KPIT said, “KPIT is uniquely positioned as a software integrator to help global OEMs accelerate this journey. We started the year on a positive note with all-round performance, with growth in line with our plan and healthy margin expansion despite cross-currency headwinds. We remain bullish on the overall growth environment,” said Patil.

Sachin Tikekar, president and MD, Joint, KPIT, said, “Supply pressure continues, albeit at a slower pace. We are building on existing partnerships and creating new ones with global universities to help attract and retain global talent, fostering career growth opportunities for our employees through targeted educational programs.”

Pune-based KPIT, which has engineering centers in Europe, the US, Japan, China, Thailand and India, generated nearly 77 percent of its revenue in FY21 from the passenger vehicle vertical, while the commercial vehicle segment contributed about 22 percent of revenue . New Mobility, which is a new area of ​​focus, contributed only about 1 percent of revenues, while other small segments made up the rest.

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