Sunday 19 May 2019
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business-standard - 3 days ago

KPIT net profit at Rs 30.9 cr in March quarter

Technology firm KPIT has posted a consolidated net profit of Rs 30.9 crore and revenue from operations of Rs 501.2 crore for the quarter ended March 31. For the corresponding quarter of 2018-19, its net profit was Rs 55 crore, while revenue from operations was at Rs 641.2 crore, according to a regulatory filing. Last year, CK Birla Group-owned Birlasoft and KPIT Technologies had announced that they will merge and then split into two publicly-traded companies to create two specialised IT players. After the demerger, the engineering business was incorporated on January 8, 2018, and listed on the BSE and the NSE as KPIT Technologies in April 2019. Hence, the company was not mandatorily required to prepare and publish quarterly and annual financial results during the year ended March 31, 2018, and up to the quarter ended December 31, 2018, the company said in a regulatory filing on Wednesday. This is the first quarter after the demerger and the company looks forward to the exciting ...

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