EU and Japan customers help KPIT Cummins to register a quarterly profit growth of 73%

Multidimensional Pune based Indian IT services company KPIT Cummins has reported a net profit growth of 73% Year -on-Year and 16% Quarter-on-Quarter to Rupees 223.78 Million (approx 4.6 million US$).

The key semiconductor and automotive related highlights of KPIT Cummins financial information release are:

KPIT has awarded with a Validator 4 project from AUTOSAR consortium and sold AUTOSAR R3.0 BSW evaluation license to a Japanese Tier 1 automotive company.
Two leading European automotives companies have selected KPIT's Network Operating System product for their automotive sub-systems.
Engaged with 2 leading European Semiconductor companies.

Kishor Patil, MD & CEO, said,
"In this quarter, we have witnessed increased relevance of our products and services to our customers. Our focused business model continues to give us leadership position in our markets and this is reflected in targeted customer-wins we had from Europe and Asia Pacific. We are also assessing adjacent markets in manufacturing where we could leverage our core competencies."

Note: One correction made to this news article's earlier version. The correction is Pune instead of Bangalore.