Pune, India, July 22, 2015: KPIT, a vertical focused technology, IT consulting and product engineering solutions and services provider to automotive & transportation, manufacturing and energy & utilities corporations, today reported its consolidated financial results for the first quarter ended June 30, 2015.
Highlights for the quarter ended June 30, 2015
- $ Revenue stood at $ 118.32 Million, a Y-o-Y growth of 2.7% and Q-o-Q decline of 3.3%.
- Services Revenues grew by 3.42% sequentially
- EBITDA Margins improved in Q1FY16 over Q4FY15 by 510 bps to 9.61%.
Commenting on the performance of Q1 FY16, Ravi Pandit, Co-founder, Chairman & Group CEO, KPIT said, “The performance for the quarter was in line with our expectations with good growth in SAP and Enterprise Solutions and lower revenues in products & platforms business due to the cyclical nature of that business. We are working on the operational excellence and people productivity improvement plans and are satisfied with the progress made during the quarter. We are confident of getting the results of these actions fully from Q3FY16 onwards.”
Kishor Patil, Co-founder, CEO & MD, KPIT said, “We continue to invest in the right areas for growth and are witnessing good traction in engineering, digital, IoT and IMS. We have built a good pipeline in these areas and expect decent deal closures in the coming quarters.” He added, “We are sharpening our vertical emphasis by creating innovative industry focused solutions, combining engineering and business IT, across our three focused verticals”.
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