New Delhi, Nov 1 (PTI) Tech firm KPIT Technologies on Monday said its consolidated net profit has more than doubled to Rs 65.1 crore for the quarter ended September 2021.

The company had reported a net profit of Rs 27.1 crore in the year-ago period, KPIT Technologies said in a regulatory filing.

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Its revenue from operations stood at Rs 590.8 crore for the quarter under review, as compared to Rs 485.4 crore in the July-September 2020 period, up 21.7 per cent.

"We are witnessing a robust demand environment resulting in strong order inflow and pipeline. With improved business visibility, we have increased our revenue and profit outlook for the year.

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"Our strategic partnership with ZF will improve our positioning and further cater to the upcoming high spend areas of mobility companies," KPIT Technologies CEO and MD Kishor Patil said.

He added this was the fifth sequential quarter of margin expansion, despite higher-than-average increments during the September 2021 quarter.

"We will continue to focus on productivity improvement, people retention and development and strengthening of front-end to enable us improve our overall performance on an ongoing basis," he said.

The company has increased its revenue growth outlook for FY2022 to 18-20 per cent.

KPIT reported revenue of USD 80.36 million, a constant currency growth of 4.8 per cent sequentially in the September 2021 quarter.

"Sequential constant currency growth of 4.8 per cent (was seen) across commercial vehicles and passenger cars verticals, broad based within geographies. Electric Powertrain and Diagnostics practices led the growth during the quarter. EBITDA expansion despite full quarter impact of wage hikes and fresher addition," it said.

Improvement in per person productivity, reduction in sub-contractor costs and revenue growth helped expand margins, it added.

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