Pune, Maharashtra, India – Business Wire India KPIT, a leading independent software development and integration partner for the automotive and mobility industry, today announced its financial results for the third quarter of the 2021-22 financial year.
Q3 FY22 Performance Overview • Q3FY22 CC revenue growth of 21.2% YoY, 5.6% QoQ. Q3FY22 EBITDA at 18.5% vs. 17.6% last quarter • Net profit for the quarter at Rs. 700 million vs. Rs. 651 million last quarter, QoQ growth of 7.5% • Net cash at end of the quarter exceeds rupees. $10 billion. Interim dividend of Rs. 1.25 per share • Full year EBITDA outlook strengthened, full year EBITDA around 18% Q3 FY22 performance highlights • Sequential CC growth of 5.6% led by Electric Powertrain and Autosar. Over the last 4 quarters, offshoring has increased and therefore volume growth is proportionally higher. The third quarter was a good quarter in terms of closing deals.
• EBITDA increased by 86 basis points after mid-term corrections, quarterly promotions and new additions. Improved revenue mix with increase in fixed price projects and offshoring.
• Sequential growth in net earnings primarily driven by higher operating margins. Other income decreased due to unfavorable currency fluctuations.
• High cash conversion rate continued after acquisition and variable incentive payments, with DSO maintained at 48 days. The cash balance at the end of the quarter exceeds Rs. 10 billion. 12th consecutive quarter of increase in net cash. Commenting on the performance of the FY22 third quarter results, Kishor Patil, Co-Founder, CEO and Managing Director of KPIT, said, “The demand environment in the mobility industry continues to be robust. , particularly in new technology areas driven by electrification, autonomous, connected and architecture change Our strategic customers have a medium-term roadmap of sustained investments in these areas, giving us good growth visibility for the next 4-5 years. We are forming the right partnerships within the ecosystem to accelerate our journey towards realizing our vision. Growth in the quarter was in line with our expectations and we continue to relentlessly improve our margins and our cash conversions. As we enter the final quarter of the fiscal year, we are confident of reaching the top of our revised full-year guidance and start next year on a good footing. SachinTikekar, President and Full-Time Director of KPIT, said, “Guided by our vision, we continue to work tirelessly on our mission, building on the four pillars of Strategic Customers, Platforms and Practices, zero defect delivery and the best place to grow. Consistent with the industry, staff turnover has been higher over the past 3-4 months. We expect the situation to stabilize over the next few quarters. We focus on internal growth paths for our employees and actively hire talent, including entry-level ones. Our engagements with strategic customers are becoming increasingly relevant and accretive to our customers’ transformation journey. We continue to invest in strengthening our solutions and customer-facing organizations. With these, we are poised for sustainable growth in the years to come. Other Highlights • KPIT, dSPACE and Microsoft partner to deliver self-driving vehicle certification solution.
• KPIT wins the ‘Transformation Initiative in Treasury Management’ award.
About KPIT KPIT is a leading independent software development and integration partner helping mobility leapfrog into a clean, smart and safe future. With 7,000 car enthusiasts worldwide specializing in in-vehicle software, AI and digital solutions, KPIT is accelerating its customers’ implementation of next-generation technologies for the future mobility roadmap. With engineering centers in Europe, the United States, Japan, China, Thailand and India, KPIT works with automotive and mobility leaders and is present where the ecosystem is transforming.
For more details visit www.kpit.com INVESTOR UPDATE: https://www.kpit.com/kpit-investor-update-q3fy22/ PWR PWR
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