KPIT to raise Rs 2,880 crore

KPIT Technologies reported a net profit of Rs 203.74 crore, which was a 44.66% year-on-year rise and a sequentially flat quarterly profit for the September quarter. KPIT’s revenues rose 8% sequentially to Rs 1,471.41 crore. The company maintained its margins at 20.5% during the quarter.

KPIT on Wednesday announced plans to raise Rs 2,880 crore. The KPIT board approved the Rs 2,880 crore through QIP. Kishor Patil, co-founder, CEO and MD, KPIT said they had taken an enabling board resolution for fund-raising for some of the strategic opportunities on the horizon.