Sequential CC Growth of 4.3% led by Powertrain, Autonomous and Connected domains. Growth was led by Passenger Vehicles in Europe & Asia. Cross currency impact due to higher mix of EURO, JPY and GBP revenues (~63% of total revenue) impacted Reported $ Revenue
EBITDA margin expanded to 20.6% (20% last qtr.) up ~200 bps Y-o-Y, post addition of ~600 freshers and quarterly promotions. Margin expansion led by improved productivity and operating leverage coupled with a better realized rate.
Q3FY24 PAT grew 54.6% Y-o-Y. Other income was higher as compared to last quarter due to gains on hedging contracts. ETR was slightly higher as compared to last quarter, in-line with our annual outlook on ETR.
Net Cash Balance at the end of the quarter stood at ₹ 8.29 billion, depicting a net cash addition of ₹ 3.1 billion. DSO at the end of the quarter stood at 46 Days.
We continue to focus on execution relentlessly and have been consistently reaping the benefits of our focus on the mobility industry, key technologies, key clients and key talent. The Q3FY24 revenues have been in line with our expectations, while we have delivered slightly ahead of expectations on the profitability front. Basis our performance so far, robust pipeline and the consistency of demand driven by new technology investments by our strategic clients, we are confident of meeting our upward revised outlook for the year.
Co founder, CEO and MD, KPIT
We are witnessing broad based traction across technologies, clients, sub-verticals and geographies. We are increasing our strategic engagements in the quest to move towards being Trusted Partners for our strategic clients. As we have seen over the last 4 quarters, the attrition continues to fall and is now at historically low levels. We have significantly moved the needle in our quest for inclusive sustainability across KPIT. We have increased our investments in new technologies and competency development to enable us deliver complex engagements, successfully
President and Joint MD, KPIT
A Leading Asian Car Manufacturer selected KPIT for multiple engagements in the Autonomous Driving and Vehicle Engineering domains.
Strategic engagements in the System Engineering for Body electronics domains for a leading European Car Manufacturer.
Several strategic engagements in the E-Powertrain domain for leading European OEMs in partnership with a leading Tier-1.
Strategic engagement in the Autonomous Driving domain for a leading European Car Manufacturer.
Several engagements in Vehicle Engineering domain for a leading American Commercial Vehicle Manufacturer.