KPIT revenue up 4.8%, headcount drops by 317 | Bengaluru News
Bengaluru: KPIT Technologies’ revenue declined 3.2% sequentially and 4.9% year-on-year in constant currency. The company’s EBIT margin was down to 17% in the June quarter. In terms of client traction, KPIT clocked a total contract value (TCV) of $241 million in the quarter, underscoring client confidence in its platform- and AI-led solutions. The company continues to deepen its presence in the mobility space through strategic AI investments, including specialised learning models and middleware stacks.CEO Kishor Patil noted that growth momentum is expected to return in the second half of the fiscal year, particularly from its top 25 strategic clients and India-focused solutions. With this, he said, there could be a push towards more hiring. “In the last two quarters, we had flat growth, which was why we did not refill with the same rigour as we would have otherwise. Productivity is also going up, which is also why there is softness on the employee side,” Patil said. He also added that the pyramid has now become wider, and with the advent of AI, there is a need for a ‘more competent workforce’. KPIT believes that there is no point in hiring when the growth is flat.As the second half of the year unfolds and the market reopens, KPIT Technologies plans to hire a few hundred fresh graduates. While the company will honour existing offers, onboarding may be delayed by one or two quarters. Regarding lateral hiring, the firm is proceeding cautiously, according to company sources. Its headcount decreased by 317 from the previous quarter, now standing at 11,676. With 60% to 70% of work becoming automated, there is a growing need for deep, critical thinking skills. The company is placing increased emphasis on productivity, utilisation, and effective deployment of its workforce on projects.
