KPIT Cummins' net profit up

KPIT Cummins Infosystems Ltd, a product engineering and IT consulting firm, on Monday reported increase of 23 per cent in its net profit at Rs 50.43 crore as compared to Rs 41 crore last year for Q3 ended on December 31, 2012.

The revenue also witnessed a increase of 48.68 per cent at Rs 563.30 crore as compared to Rs 378.85 crore last quarter. Commenting on the results, Kishor Patil, MD and CEO, KPIT said, "Despite the loss of revenues on account of lower number of working days during Q3, we were in a position maintain revenues. The profitability improvement during the year  is a reflection of both strong operational improvements as well as higher currency realization.”