KPIT Q1FY21 USD revenue at USD 65.25 Million, a Y-o-Y decline of 9.1% in constant currency terms

Q1 FY 20-21 performance overview:

KPIT Q1FY21 USD revenue at USD 65.25 Million, a Y-o-Y decline of 9.1% in constant currency terms

• Revenue decline of 13.8% Q-o-Q in constant currency terms
• Q1FY21 EBITDA at 13.4%, Net Profit at ₹ 240 Million, 21.7% Y-o-Y decline in Net Profit
• New deal signed, worth USD 60+ M over 5 years
• Net Cash as at the quarter end stood at ₹ 3,939 Million

Kishor Patil, Co-founder, CEO and MD, KPIT

said, “The performance of this quarter is in line with our expectations in the face of the global pandemic. The mobility industry is stabilizing, and we are witnessing increased interest from our strategic clients with prioritizing of investments in Electric Powertrain, Autonomous Driving and Digital Cockpit. We have closed two large deals in consecutive quarters now and remain optimistic about growth and gradual improvement in other operating parameters in H2FY21 and beyond.”

Sachin Tikekar, President and Whole-time Director, KPIT

said, “Our priority during the last quarter was to keep the well-being of our employees in the center, uphold all our commitments to our clients and to remain liquid to get through the difficult spell. We did a tremendous job on all the three; thanks to the unwavering commitment of our employees and great support from our clients. We continue to invest in our practices to do more with less for our clients as they tread their way through the global pandemic.”

KPIT Q1FY21 Results Download Here

MEDIA CONTACTS

Mohit Kochar

Global Head , Marketing  | mohit.kochar@kpit.verifinow.in

Sunil Ravish

Director , Marketing | Media Relations  | sunil.r@kpit.verifinow.in

Reema Kumari

Team Gutenberg | reema@thegutenberg.com

INVESTOR RELATIONS

Sunil Phansalkar

Head, Investor Relations | sunil.phansalkar@kpit.verifinow.in