PRTODAY / NewswireToday Free press release distribution service network

More news: Software
Written by / Agency / Source: KPIT Cummins

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Customer-Centric Innovation Drives Q3, FY 10 Growth at KPIT Cummins - Net Profit grows 27% Y-o-Y, revenues grew by 8.6% Q-o-Q to USD 39.48 Mn. KPIT Cummins filed 6 Patents Covering Innovations in Automotive and Semiconductor Technologies (BSE: 532400; NSE: KPIT)
Customer-Centric Innovation Drives Q3, FY 10 Growth at KPIT Cummins

 

NewswireToday - /newswire/ - Pune, Maharashtra, India, 2010/01/20 - Net Profit grows 27% Y-o-Y, revenues grew by 8.6% Q-o-Q to USD 39.48 Mn. KPIT Cummins filed 6 Patents Covering Innovations in Automotive and Semiconductor Technologies (BSE: 532400; NSE: KPIT).

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

KPIT Cummins (BSE: 532400; NSE: KPIT), the leading product engineering and IT consulting partner to manufacturing companies, today announced a net profit increase of 27% Y-o-Y during Q3 FY 2010, ending December 31, 2009. KPIT Cummins also announced that revenues grew to USD 39.48 Mn, a growth of 8.62% Q-o-Q. Increased focus on non-linear growth and differentiated engagement models started delivering results in Q3, FY10.

Business Highlights:
• Filed a total of 6 patents in the last quarter - 5 patents in the area of Powertrain & Hybrid and 1 patent in semiconductor space.
• Entered into a definitive merger agreement with Sparta Consulting Inc, a California, US based leading provider of high-end SAP solutions. The all cash transaction is for a consideration of USD 38 million which includes a bonus of USD 4 million.
• Became Product Partner of Mathworks Connections Program. This will enable us to align our AUTOSAR based products with the industry’s leading technical computing software.

Highlights for the quarter ended December 31, 2009:
• Net Profits for the quarter stood at INR 214 Mn, a Y-o-Y growth of 27%.
• Increased Profit Guidance for FY10. Net Profit after tax to be in the range of Rs. 840 Million to Rs. 860 Million for FY10, Y-o-Y growth of 28% to 30%.
• USD Revenue for the quarter increased by 8.6% Q-o-Q to $ 39.48 Mn.
• In INR terms, revenues stood at Rs. 1,847.5 Mn. Q-o-Q growth of 4.39%.
• 2 new Customers were added during the quarter, taking the total number of customers to 139.
• 6 new patents were filed during the quarter, taking the total number of patents to 14.

Ravi Pandit, Chairman & Group CEO said, “Our investments in technologies and people have delivered results. In this quarter, we have filed 6 patents in automotive and semiconductor space (aligned to customer priorities) and this thrust would continue. Driven by technologies to improve manufacturing processes, we believe a larger component of our revenues in the current year and FY11 could come from new technologies. As part of our hiring plan we were to add 250 freshers in the workforce, of this half have already joined and the remaining will come on board during Q4, FY 10.”

Kishor Patil, MD & CEO, said, “Phase 1 of the integration process of Sparta Consulting is nearly complete and we have started seeing positive traction from customers to our strengthened SAP practice. Emerging markets – India and China, are also showing significant growth and the revenues from this region have doubled during the current financial year. Overall in most of our business areas we have started seeing positive and increased interest from customers across all geographies.”

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: KPIT Cummins

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


Customer-Centric Innovation Drives Q3, FY 10 Growth at KPIT Cummins

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

Press Release |
Publisher Contact: Charuta Patwardhan - KPITCummins.com 
+91 20-66525000 charuta.patwardhan[.]kpitcummins.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any KPIT Cummins securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From KPIT Cummins / Company Profile


Read Software Most Recent Related Newswires:

LDiscovery Completes Acquisition of Kroll Ontrack
SYSPRO Opens a New Office in Nairobi, Kenya
Rocket Servergraph Professional Now Supports IBM i
JDA Solutions Selected by Coca-Cola FEMSA Mexico to Support its Innovative Supply Chain
CommutAir Leverages The Weather Company, an IBM Business, to Harness the Power of Big Data from the Tarmac
Leading Independent Research Firm Cites TIBCO as a Strong Performer in Insight Platform Report
Saba Named a Leader in Learning and Performance Management
Infor Recognized as Top Retail Software Provider in 2016 RIS News LeaderBoard
IBM Debuts Blockchain Ecosystem to Help Accelerate Growth of Networks on Hyperledger Fabric
Permanent TSB to Improve Contact Centre Performance and Compliance with Noble Systems Composer Real-Time Speech Analytics
Rush Health Selects InterSystems HealthShare to Integrate Health Records, Support Value-Based Care
IBM Launches New Bluemix Services with GitHub and Slack Integration to Speed App Development in the Cloud
Yellowfin Launches Analytics Industry’s First Virtualized Integrated Data Preparation Module
TIBCO Releases TIBCO Mashery Local API Management Solution for Hybrid Gateway Deployments
Comways and Altitude Highlight Flexible Solutions at Belgium Contact Center Congress

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Triggr & Bloom

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)