KPIT Reports Net Profit Growth of 11.9 Percent Sequentially and USD Revenue Growth of 6.8 Percent Sequentially in Q4 FY2020-21

KPIT, a leading independent software development and integration partner to the automotive and mobility industry announced financial results for Q4 FY 2020-21 today.

KPIT reported USD Revenue growth of 6.8% sequentially and net profit growth of 11.9% sequentially in Q4 FY2020-21.

Q4 FY21 performance overview

• Q4FY21 EBITDA at 17.2% as compared to 15.7% last quarter.
• Net Profit for the quarter at Rs 467.5 million as against Rs 418 million last quarter
• Q4FY21 reported revenue at USD 74.48 million, a CC growth of 5.1% Q-o-Q
• Net Cash as at the quarter end stood at Rs 8,224 Million as compared to Rs 6,295 last quarter, ZERO DEBT

Q4 FY21 performance Highlights

• Sequential growth of 6.8% led by Connected Vehicles and Autonomous Driving. Full-fledged execution started on all large engagements won earlier.
• Operating Margin (EBITDA) expansion of 150 bps despite rupee appreciation. Improvement in utilization, offshore revenues and revenue growth helped expand margins
• Sequential net profit growth of ~12% despite higher forex conversion loss due to rupee appreciation. Lower depreciation and higher yields on cash during the quarter
• High cash conversion continues with DSO at 54 days. 9th consecutive quarter of increase in net cash

Commenting on the performance of FY21, Ravi Pandit, Co-founder and Chairman, KPIT said,"FY21 was a challenging year in many ways and I am happy on the way we have emerged stronger. The mobility industry is embracing new engineering technologies with open arms and KPIT is proud to be at the forefront of these adaptions. KPIT’s leading positioning in this technology-led transformation gives us good business visibility over the next 4-5 years."

Kishor Patil, Co-founder, CEO and MD, KPIT said, "We have delivered consecutive quarters of good growth and margin expansion. KPIT teams, globally, have done an exceptional job on delivering these numbers. We are assertive of the growth trajectory and feel fairly confident of delivering double digit growth in FY22. We continue to focus on people development, operational efficiency and productivity improvement."

Sachin Tikekar, President and Whole-time Director, KPIT said, "During the year our focus was on upholding commitments to our clients and keeping our employees safe. We continue to deepen our strategic client engagements and focus on further enhancing our practices with relevant technology investments to make our clients successful in their technology roadmaps. Longer strategic client engagements give us good growth visibility for the medium term."

Investor Update Q4 FY2020-21 – Download Here - https://www.kpit.com/investors/