Manufacturing solutions provider KPIT Cummins Infosystems posted a 19.36 per cent rise in net profit at Rs 16.86 crore for the quarter ended December 31, 2008, as compared to Rs 14.11 crore in the corresponding period a year ago.
The revenues also grew by 22.06 per cent to Rs 184.52 crore during the third quarter as against Rs 151.17 crore, the company said in a filing to the Bombay Stock Exchange (BSE).
On Quarter-on-Quarter basis, the company revenues declined by 5.24 per cent to Rs 184.52 crore as against Rs 194.72 crore posted during the quarter ended September 30, 2008.
This largely attributes to the global slowdown in the automobile and manufacturing sector, which are key areas for KPIT Cummins Infosystems.
Interestingly, depite of a minor fall in revenues on sequential basis, the company managed to increase its profis slightly from Rs 16.82 crore posted during the second quarter of the on-going fiscal to Rs 16.84 crore during the quarter ended December 31.
The company added three new clients to its list during this period while 106 new employees were added.
Commenting on the results, KPIT CEO and Managing Director Kishor Patil said: "Despite of a tough industry situation, we have managed to post a good growth. The restructing happening in automobile industry will help us to growth further."
