As compared to Q2 FY23, the company's net profit and revenue increased by 68.72% and 61%, respectively.

Profit before tax was at Rs 187.74 crore in quarter ended 30 September 2023 (up 6.29% QoQ and up 72.03% YoY).

EBITDA stood at Rs 239.93 crore in Q2 FY24, registering a growth of 9.05% QoQ and 73.66% YoY. EBITDA margin remained constant at 20% in Q2 FY24 as against Q1 FY24 and 18.5% posted in Q2 FY23.

During the quarter, constant currency (CC) revenue growth was at 51.7% YoY and 9% QoQ. In dollar terms, revenue growth was 54.2% YoY and 8.4% QoQ.

Total contract value (TCV) of total deals won during the quarter was $156 million.

The total headcount as on 30 September 2023 was at 11,971.

With respect to outlook, KPIT Tech said that FY24 CC growth outlook increased to over 37% from 27%-30% earlier, EBITDA outlook increased to more than 20% from 19%-20% earlier.

Kishor Patil, co-founder, CEO and MD, KPIT said,” Our medium-term business fundamentals and growth drivers remain unchanged. While the geopolitical situation and economic uncertainty across geographies is leading to a softer macro environment, we keep a watchful eye on the impact on our clients and their business priorities.”

Sachin Tikekar, co-founder and joint MD, KPIT said, “We will sharpen our focus further on commercial vehicles in the near term. As we focus on effective delivery of complex large engagements, we continue to lay emphasis on zero-defect delivery. We are progressing well on co-creation of the sustainability roadmap with our employees. We are happy on integration of the acquired entities and are on track for achieving stated medium-term strategic objectives.”

KPIT Technologies is a technological company focused on automobile engineering and mobility solutions. The company offers technology solutions to automobile OEMs under different practices such as power trains (conventional and electrical), connectivity, autonomous (vision and control systems) and diagnostics. Each of its practice areas offer software IP, software integration, feature development, and verification and validation services.