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KPIT Cummins net up 73%

City-based KPIT Cummins,a technology solutions and services partner to the global manufacturing industry...

Written by Express News Service | Pune |
July 21, 2009 4:50:28 am

City-based KPIT Cummins,a technology solutions and services partner to the global manufacturing industry,registered a net profit growth of 73 per cent year-on-year and 16 per cent quarter-on-quarter to reach Rs 223.78 million. The company,on Monday,announced its results for the quarter ending June 30.

Earnings before interest,taxes,depreciation and amortisation (EBITDA) grew by 33 per cent year-on-year to reach Rs 366.15 million,whereas gross profit margin stood at 42.98 per cent,up by 3.5 per cent and EBITDA margin 21.19 per cent,an increase of 5.5 per cent,a company statement here said.

Ravi Pandit,chairman and Group CEO,said,“Our focus on operational excellence continues to yield results. In this quarter,we have demonstrated excellent growth in profits. We will continue our thrust on operational excellence,innovation and customer centricity.”

KPIT Cummins added five customers during the quarter,taking the total number of customers to 133. The company currently partners over 100 global manufacturing corporations,including more than 50 Original Equipment Manufacturers,semiconductor companies and Tier I companies,said the statement.

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