KPIT Q4 net profit slips 42% to Rs 54 cr

IT firm KPIT today said its consolidated net profit fell 42 per cent to Rs 53.73 crore for the fourth quarter ended March 31, 2017.
This is against a net profit of Rs 92.73 crore in the year-ago period, KPIT said in a filing to the BSE.
The company's sales, however, increased 2 per cent to Rs 858.4 crore in the reported period from Rs 840.9 crore in the same quarter a year ago, it added.
For the year, KPIT posted a 15 per cent decline in net profit to Rs 238.5 crore, while sales were up three per cent to Rs 3,323 crore compared to 2015-16.

The company has given a revenue growth outlook of 6-8 per cent growth in constant currency terms.
"We are satisfied with the revenue growth during the quarter, led by engineering and products and platforms. We remain focused on profitable growth for FY18, with engineering and digital technologies being the two main growth drivers for us," KPIT Chairman and Group CEO Ravi Pandit said.
He added that the company will continue to invest in growth-oriented industry and operations technology solutions for our focus verticals.
The company added 229 people during the quarter.