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KPIT Technologies posted a poor performance for Q3FY16, where net profit fell 2% (QoQ) to Rs.

74 crore and revenue was static at Rs.813 crore. Do


revenue stood at $ 123.28 million, a sequential decline of 1%. Services revenue was at $ 118.57 million, flat QoQ. Amongst the top customers, there wa
large decline in one of the top 5 customers in Q3FY16 due to project closures and higher furloughs resulting in a decline of 9.4% and 6% in the top 5 a
top 10 customers respectively. There was a decline in the Products & Platforms SBU mainly due to a reduced delivery schedule in Intelligent Transportat
Solutions (ITS) during the quarter.
EBITDA Margins for the quarter improved by 57bps to 14.59% led by expansion in gross margins and also aided by the rupee depreciation. The expansion in gross marg
was mainly due to better employee pyramid. In Q3 FY16 there was a net reduction of 100 in the total headcount, whereas we added 304 fresh graduates during the quart
The realized rate for the quarter was Rs.65.95 v/s Rs.65.20 in Q2. The positive impact of the rupee depreciation on EBITDA margins was around 30 bps.
Automotive vertical contributed 35.97% of the total revenues during the quarter, depicting a sequential decline of 3.53%. This decline was mainly due to lower milestone bill
during the quarter as compared with the last quarter and the impact of furloughs. Manufacturing vertical contributed 36.61% of the total revenues during the quarter, depict
a sequential growth of 6.15%. Energy & Utilities vertical contributed 20.17% of the total revenues during the quarter, depicting a sequential decline of 5.04%. Due to the fall
oil prices, there is a reduction in the total capex and opex of energy customers. During the quarter, product engineering services contributed 26.35% to the total reven
showing a QoQ decline of 2.04%.
In terms of geographical revenue spread, USA showed a 4% (QoQ) growth, Europe had a degrowth of 4% while Rest of the World showed a 12.34%.
Cash balance as t 31st Dec 2016, stood at Rs.383 crore while total debt was at Rs.275 crore.

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