Shares of KPIT Technologies jumped as much as 7.2% to hit an intraday high of ₹914.50 apiece on the BSE after the company's revenue from operations rose 10.93% year-on-year to ₹1,107.4 crore in the March quarter as against ₹651.7 crore in the same period last year. The scrip closed at ₹904.80 on Wednesday.
During the session, the company's market capitalisation stood at ₹24,804 crore as 4,64,930 shares exchanged hands on the BSE, which is higher than the two-week average of 1.08 lakh shares. Currently, shares of KPIT Technologies are trading 3.3% lower than the 52-week high of ₹946.50. The share price of KPIT Technologies is, however, trading 107.8% higher than its 52-week low of ₹440.
In the March quarter, the company’s profit stood at ₹111.58 crore, up 38.5% YoY from ₹80.58 crore in the same period last year. The company’s EBITDA (earnings before interest taxes, depreciation and amortisation) increased by 60% YoY to ₹194.2 crore in the March quarter as against ₹121.3 crore in the same period last year.
"EBITDA margin expansion of 60 bps for the quarter led by revenue growth and operational efficiencies. Impact of Purchase Price Allocation relating to Technica Acquisition reflected in Depreciation. Deemed Interest on payments related to deferred payouts is reflected in Finance Costs," the company says.
In FY23, the company’s profit after tax stood at ₹386.8 crore, witnessing a growth of 40% YoY as against ₹276.2 crore in FY22. The company’s revenue from operations stood at ₹3,365 crore in FY23 as against ₹2,432.38 crore in FY22. On a sequential basis, the company’s revenue from operations was up 10.9% QoQ (quarter-on-quarter) as against ₹917.1 crore in the December quarter, whereas the profit after tax was up 7.2% QoQ as against ₹104.05 crore in the quarter-ago period.
The company has also recommended a final dividend at ₹2.65/- per equity share of ₹10/- each (26.5%) for FY23. “Recommendation of Final Dividend at Rs. 2.65/- per equity share of Rs. 10/- each (26.5%) for FY 2022-23, subject to the declaration of the same by members at the ensuing Annual General Meeting ("AGM") of the Company to be held within the stipulated timeline as per the Companies Act, 2013 and the Rules made thereunder. The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Companies Act, 2013 & the Rules made thereunder,” the company says.
In the March quarter, other income depicted a loss of ₹5.6 crore as compared to a profit of ₹21 crore in Q3 of FY23. According to the company Q3FY23 income was higher on account of rupee depreciation against the Euro and Pound.
"We have consistently delivered eleven sequential quarters of healthy growth in revenues and operating profits. On the back of a solid quarter and year performance and the basis of recent mega engagements and committed spending on software by our Strategic Clients, we are witnessing robust demand and increased visibility for the next 3-4 years. We are focused on helping our clients create new business models to transform their business. We start FY24 on a strong footing and expect to deliver CC revenue growth of 27%-30% with EBITDA margins between 19%-20%," says Kishor Patil, co-founder, CEO and Managing Director, KPIT Technologies.
