KPIT Technologies, an independent software integration partner to the automotive and mobility ecosystem, announced that it has clocked a revenue of $ 133.9 million, and posted CC growth of 51.7% YoY in Q1FY24. Its PAT grew 56.9% YoY.
Kishor Patil, Co-founder, CEO and MD, KPIT, explained that strategic accounts, middleware and architecture, electric powertrain and connected vehicles led the growth.
He said, “Opportunities remain stronger as mobility players continue to invest in new technologies, in the areas of electrification, vehicle autonomy, connectivity and personalisation.”
Further, the company maintains that it has a healthy pipeline and is slightly ahead in the ramp-up of the mega strategic engagements announced last year.
Sachin Tikekar, President and Joint MD, KPIT, said, “We are experiencing greater traction with our strategic clients as we move further in creating trusted partnerships with our clients to help them accelerate their transformation. The attrition has been consistently falling over the last three quarters.”
The company is investing in improving the quality of hires and building the right competencies and technologies to enable flawless execution. It has also started baselining sustainability.