Commenting on the results, Kishor Patil, managing director and CEO, KPITsaid, “We have closed large deals in excess of USD 70 million during the quarter which provides a sound platform, going into FY15. However due to the delay in the closure of the new deals, a couple of deals will start in Q4 and some later. We also experienced extended furloughs in some of our customer accounts during Q3FY14, resulting in two additional days of lost onsite billing, than expected. The shortfall in the revenue is entirely on account of deficit in SAP SBU revenue for FY14. However on the profit number we will exceed the higher end of the guidance despite the challenges faced on SAP SBU profitability”.
In order to get ready for the ramp-ups on these deals, the company is hiring 300 plus people in the next quarter.