KPIT Technologies Faces Profit Dip Amid Currency Challenges
KPIT Technologies reported a 16% decline in net profit for Q1 FY26, influenced by currency fluctuations and exceptional incomes from the previous year. Despite this, revenue increased by 13%. CEO Kishor Patil remains optimistic about navigating geopolitical uncertainties and maintaining EBITDA margins.
- Country:
- India
KPIT Technologies, a leader in mobility and automotive solutions, announced a consolidated net profit of Rs 172 crore for the June quarter. This represents a nearly 16% decline compared to the same period last year, attributed to previous exceptional income benefits and the impact of currency fluctuations.
Despite the profit dip, KPIT Technologies saw a 13% rise in revenue from operations, reaching Rs 1,538.7 crore. The company's net profit for Q1 FY26 was Rs 171.8 crore, approximately 15.8% lower than the previous year, also affected by currency movements and one-time income factors.
CEO Kishor Patil expressed confidence in overcoming current geo-economic challenges, noting the company's performance aligns with expectations and that EBITDA margins have remained stable. He anticipates that the volatility in the mobility sector will subside soon.
(With inputs from agencies.)
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