KPIT Cummins Announces Its Results for the Quarter and the Financial Year Ending March 31, 2008
KPIT Cummins Infosystems has announced its results for the Quarter and the Financial year ending March 31, 2008. The Company recorded total revenues of USD 145.24 Mn for FY08, a growth of 41.67% over the previous year. For the quarter ended March 31, 2008 too, the Company recorded a revenue of USD 41.16 Mn, reflecting a year-on-year growth of 42.87% and a sequential growth of 10.91%. In INR terms, total revenues for the year ended March 31, 2008 were Rs.6005.46 Mn, reflecting a 29.51% growth over the revenues in FY07. For the quarter ended March 31, 2008, the Company's revenue stood at Rs.1648.41 Mn, a growth of 26.51% over the corresponding period in the last financial year and 9.04% on a sequential basis.
For the year ended March 31, 2008, the company earned Net Profit of Rs.512.82 Mn. For Q4 FY08, the Company posted a Net Profit of Rs.103.94 Mn.
Growth in offshore revenues has been strong at 40.18% over the previous year. As a proportion of total revenues, offshore revenues increased to 52.77% during the year, as compared to 48.75% in the pervious year.
The Board of directors has recommended 35% Dividend for FY08.
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