Kpit company profile

Kpit company profile



KPIT Cummins Infosystems showed a top line growth of 58% and a bottom line growth of 682% on a quarter on quarter basis During this quarter the total income of the Company reached Rs.183.3 mn as against Rs.115.7 mn, same quarter last year and consolidated Profit After tax of Rs.16.4 mn compared to loss of Rs.1.8 mn in the earlier period the Company.

The Company focuses mainly on two verticals namely, Manufacturing and Banking/Finance/Insurance. The Manufacturing vertical contributed to 57% of the total revenue during the quarter. The Banking/Finance/Insurance vertical contributed to 33% of the total revenues.

During the quarter, Cummins contributed 38% of the total revenues. Excluding Cummins, other top five customers contributed 38% of the revenue. None of these customers contributed to more than 15% of the revenue individually. The top ten clients including Cummins contributed to 85% of the revenues.

Of the total revenues on geographical basis, USA contributed 52%, UK and Europe contributed 39%, and Japan, Middle East and India contributed 9%.

Out of the total revenues of the quarter, exports contributed 98%, offshore contributed 33% (23% same quarter last year) and onsite contributed 67% (77% same quarter last year).

During the quarter the Company added one key customer. The Company has total of 34 customers. During the quarter the Company experienced significant growth in its services relating to Embedded software as well as ERP Implementation. The Company also succeeded in bringing the work of some of its key customers offshore

The Company presently employees a total staff of 470 people which includes 415 software professionals and 55 support staff including staff at foreign subsidiaries. During the quarter the company added 76 software professionals.

The average billing rates were $ 59 per hour for onsite services and $ 20 per hour for offshore services in the US market. In the UK market, they were £32 and £15 respectively.

The expenditure increased by 44% as the SGA expenses has increased in tune with the increasing size of the business. The pre tax profits grew at 7895 while the net grew at 683% to end at Rs 17.71mn. The EPS for the period stood at Rs 3.43

The Company has given a guidance that it will close the year with revenues in the range of Rs.680 mn to Rs.720 mn and consolidated Profit After Tax in the range of Rs.48mn to Rs.53mn