KPIT Q3 revenues up 29%

CORPORATE SCORECARD

Despite rupee appreciation, manufacturing solutions provider KPIT Cummins Infosystems registered a 29.09 per cent growth in revenues at Rs 151.17 crore for the third quarter ended December 31, 2007, on a year-on-year basis.

KPIT, which won a new project from Europe's leading automotive consortium during the quarter, posted sequential growth in net profit of 2.97 per cent in rupee terms, a statement issued by the company stated.

It added four new customers and reached an employee strength of 4,152 with the addition of 213 staffers.

Commenting over the results, Chairman and Group CEO Ravi Pandit said, "Despite an appreciating rupee, we have maintained our growth momentum. The third quarter is generally slow due to holidays and festivities and we saw dollar realisations going down 2.8 per cent. However, total sales grew 35.01 per cent year-on-year and 5.86 per cent sequentially."