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BusinessWire India
Pune (Maharashtra) [India], July 26: KPIT Technologies (NSE: KPITTECH BSE: 542651), an independent software integration partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, announced financial results for Q1 FY25 today. * Q1 FY25 $ revenue growth of 23.1% YOY* Q1 FY25 EBIDTA at 21.1%, a 31% growth YOY* $202MN worth of engagements closed during the quarter with a healthy pipeline across technology areas Performance overview * Q1 FY25 Revenues * Revenues at $165MN with CC growth of 24.8% Y-o-Y and $ revenue growth of 23.1% Y-o-Y* Growth led by Middleware, Powertrain domains* Growth led by Passenger Car Vertical and Asia geography * Q1 FY25 EBITDA and PAT* EBITDA at 21.1%, sequential growth of 5.6%* PAT stands at INR 2042MN growing at 52.4% YoY * TCV of new engagements won during Q1 FY25: $202 million * Talent* Largest pool of automotive software specialists - Global employee count crosses 13000* Focus on productivity and competency development aided by AI* Industry-leading long-term benefits, promotions and increments rolled * Sustainability* Launch of ECOVOYAGE 2030, KPIT's journey towards Sustainability. Goals anchored on Science-based Targets towards carbon-neutral footprint. Commenting on the performance of Q1 FY25 Kishor Patil, Co-founder, CEO and MD, KPIT said,"We have started the year on a positive note with an all-round robust performance. While the mobility industry is going through certain pressures on the demand and profitability fronts, we are proactively investing in creating relevant large, differentiated offerings to support our clients reduce their costs and time-to-market. We are also investing in adjacencies and newer geographical markets. We expect creation of meaningful growth opportunities via both these investments and continue with the growth momentum, paving way for a fair demand visibility in the medium-term." Sachin Tikekar, President and Joint MD, KPIT said,"Our attention remains on making Software Defined Vehicles (SDV) a reality for our clients, so that they realize its benefits. We are working on productivity and competency improvement aided by AI, to improve our competitiveness and offer differentiated offerings to clients. The attrition numbers continue to drop further, justifying our continual investments in overall people development. Sustainability, in line with our Vision of 'a cleaner, safer and smarter world' is one of the prime key result areas for us. We are anchoring our goals on Science Based Targets (SBTs) towards carbon neutral footprint of our own." (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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