KPIT Technologies' board has given the green light to a fundraising effort of Rs 2,880 crore through a qualified institutions placement (QIP), as stated in an exchange filing.
The company's consolidated net profit for the quarter ending September 30, 2024, remained unchanged at Rs 204 crore compared to the previous quarter. However, KPIT saw an 8% sequential increase in revenue, with Rs 1,471 crore for the July-September period of the 2024-25 fiscal year, up from Rs 1,364 crore in the previous quarter. The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 4% to Rs 301 crore, although the EBITDA margin slightly decreased to 20.5% from 21.2% in the prior quarter.
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