KPIT Technologies Q1 net up 2.5 times YoY to Rs 60 cr, revenue up 15%

Firm silent on attrition rate during the quarter, though it does see it rising before stabilising

Auto focused mid-cap IT services player KPTI Technologies reported net profit of Rs 60.2 crore for the first quarter of FY22, a growth of 2.5x year-on-year, on sequential basis profit was up 14.2 per cent.

Revenue grew 15 per cent year-on-year at Rs 567.38 crore, on a quarter-on-quarter basis revenue was up 5 per cent. In US dollar terms the company reported revenue growth of 4.3 per cent QoQ at $77.20 million.

“We wanted to start the year on a strong foundation and we have done it with the Q1 numbers. The mobility industry is buoyant with increased investments in electrification, autonomous