KPIT Tech shares surge 7% after PAT grows 47% in Q4

has also reported a constant currency growth of 39% for FY24, which has beaten the increased guidance for the year. Further, the company has also declared a dividend of Rs 6.70 per share.

A TCV of new engagements won by KPIT during Q4FY24 came in at $261 million, wherein a leading European car manufacturer selected KPIT for significant engagements in the electric powertrain and connected domains whereas crucial engagements in the connected, electric and conventional powertrain domains with a leading American car manufacturer have been done.

“Since our landmark demerger in 2019, we have been truly living our Vision of Reimagining Mobility with you for the creation of a cleaner, safer and smarter world. The world of Mobility is transforming at a pace faster than ever before. We are proud to be at the forefront of these technology transformations with focus on sustainability – for our clients, employees, internal operations and the world at large. Our 40%+ growth is a testimony to global needs and our expertise. We are confident about our performance going forward,” said Ravi Pandit, Co-founder and Chairman of KPIT commenting on the performance of FY24.

KPIT Technologies Limited is an Indian multinational corporation which provides engineering research and development services to automotive companies. Popularly known as KPIT, the company has development centers in Europe, USA, Japan, and China, apart from India.

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