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Equity News

KPIT Technologies Q4 net up 20% at Rs 61.3 cr

30 April 2014 (12:04AM)

IT major, KPIT Technologies Ltd has reported a rise of 19.8 per cent in its consolidated net profit for the quarter ended March 31, 2014 at Rs 61.3 crore from the same period a year ago. In Q4 FY 2012-13, the company had posted a consolidated net profit of Rs 51.1 crore, KPIT Technologies said in a filing to the Bombay Stock Exchange. Further, the net sales of the company rose by 23 per cent to Rs 700.1 crore as compared to Rs 569.8 crore in the same period a year ago. Commenting on the company’s performance in Q4 and FY14, Ravi Pandit, Chairman & Group CEO, KPIT said, “With a robust growth in Q4FY14 we are looking forward for revenue growth in FY15 to be 12-14 per cent and estimate 18-21 per cent growth in profits during the year. FY14 was a tough year for one of our SBUs namely SAP, excluding which we grew by 17 per cent over last year. FY14 has ended on a positive note for us with large deal closures and we are optimistic about growth in FY15.” Further, the Board has recommended a dividend of 55 per cent for the year 2013-2014, added another filing.


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