Date:13/06/2008 URL: http://www.thehindubusinessline.com/2008/06/13/stories/2008061352330400.htm

Back KPIT Cummins revenue rises 42%

Our Bureau

Pune, June 12

KPIT Cummins Infosystems, IT consulting and solutions partner to global manufacturing corporations, has recorded total revenues of $145.24 million for FY08, a growth of 41.67 per cent over the previous year.

In rupee terms, total revenues for the year ended March 31, 2008 were Rs 600.54 crore, reflecting a 29.51 per cent growth over the revenues in FY07.

For the quarter ended March 31, 2008, it has recorded revenue of $41.16 million, reflecting a year-on-year growth of 42.87 per cent and a sequential growth of 10.91 per cent.

For the quarter ended March 31, revenue was Rs 164.84 crore, growth of 26.51 per cent over the corresponding period in the last financial year and 9.04 per cent on a sequential basis.

For the year ended March 31, net profit stood at Rs 51.28 crore.

For Q4 FY08, net profit was Rs 10.39 crore. Growth in offshore revenues stood at 40.18 per cent over the previous year.

As a proportion of total revenues, offshore revenues increased to 52.77 per cent during the year, as compared to 48.75 per cent in the pervious year.

The board of directors has recommended 35 per cent dividend for FY08.

The company guidance for FY09 revenues in rupee terms are expected to be in the range of Rs 740-760 crore (growth in the range of 23-26 per cent). In dollar terms, revenues are expected to be in the range of $185 to $190 million.