KPIT Technologies' net profit jumps to ₹155.3 crore in third quarter, announces interim dividend

KPIT Tech also announced an interim dividend of ₹2.10 per equity share, which is 21% of the face value of ₹10 each, for the financial year 2023–24, to be paid to the shares of the company. The record date to determine eligible shareholders has been fixed at February 9, 2024.

KPIT Technologies shares were trading at ₹1,458.75 apiece, up 3.67% on the NSE at 12.58 PM. The IT stock opened at ₹1,418.25 and hit the day's high at ₹1,486.

KPIT Tech also bagged orders worth $189 million in the quarter under review, with a healthy pipeline across practices, the company said in its exchange filing.

Kishor Patil, Co-founder, CEO and MD of the IT firm, said, "We continue to focus on execution and have been consistently reaping the benefits of our focus on the mobility industry, key technologies, key clients, and key talent. The third quarter revenues have been in line with our expectations, while we have delivered slightly ahead of expectations on the profitability front. Basis our performance so far, robust pipeline and the consistency of demand driven by new technology investments by our strategic clients, we are confident of meeting our upward revised outlook for the year."

KPIT announced a strategic investment in N-Dream AG, one of the early movers in the in-car gaming space.

"With N-Dreams' easy-to-launch casual gaming platform AirConsole, and KPIT’s integration expertise, this collaboration enables OEMs to transform experiences in the Cockpit of the Future," it said in the filing.