Summary:
Pune, Maharashtra, India – Business Wire India KPIT (NSE: KPITTECH BSE: 542651), a leading partner for developing software defined vehicles to the automotive and mobility industry announced financial results for Q1 FY23 results today.
Performance overview • Q1 FY23 Revenue o CC Revenue Growth of 23% Y-o-Y, 6.0% Q-o-Q o $ Revenue Growth of 16.4% Y-o-Y and 3.2% Q-o-Q • Operating margins o Q1FY23 EBITDA at 19.4% against 18.6% last qtr.
o Y-o-Y EBITDA growth of 35.7%, 9.7% Q-o-Q • Q1 FY23 profit o Net Profit at Rs.
854 million o Net Profit growth of 41%+ Y-o-Y, 8.3% Q-o-Q • New Engagements o New wins continue to be stronger o TCV of $ 155 million won during the quarter Performance Highlights • Sequential CC growth of 6% led by Electric Powertrain and architecture and middleware domains.
Growth steered by passenger car vertical.
Higher cross currency impact due to Euro, GBP and Yen depreciation against the INR.
• EBITDA expansion of 80 bps despite supply side constraints, fresher additions and cross-currency headwinds.
Operating efficiency, net realization improvement and revenue growth leading to consistent improvement in margins • Healthy growth in net profit aided by improvement in operating margins and higher other income.
ETR for the quarter higher as compared to last quarter, as a result of one-time benefit last quarter.
• High cash conversion continued post acquisition payout, with DSO at 46 days.