KPIT Cummins registers encouraging growth in Q1 FY09

Mumbai, 17th July 2008: KPIT Cummins (BSE: 532400; NSE: KPIT), the co-innovator of futuristic solutions for global manufacturing companies in Automotive, Hi-Tech and Industrial verticals, today announced its results for Q1 ended June 30, 2008.

Top-line Growth

The company recorded total revenues of Rs.1736.83 Mn during Q1 FY09, reflecting a 28.38% growth over the revenues in same quarter last fiscal and sequential growth of 5.36% in INR terms. In US$ terms revenues grew by 37.32% Y-o-Y while sequential growth was 3.43% for the quarter.

Profit Growth

For Q1 FY09, the Company earned a Net Profit of Rs. 129.68 Mn; profits grew 24.76% over the previous quarter.

Gross profit for the quarter was 38.71% of total revenue, reflecting Y-o-Y growth of 31.55% and sequential growth of 8.08%.

Quarter Highlights

• Total Revenues for the quarter Q1 FY09 grew by 28.38% Y-o-Y to Rs.1736.83 Mn

• Net Profit earned for Q1 FY09 was Rs.129.68 Mn, an increase of 24.76% over previous

Quarter

• Headcount at the end of Q1 FY09 was 4802, net addition of 321 during the quarter

• 6 new customers added during the quarter: total number of customers goes to 117

• EBITDA for Q1 FY09 was Rs.226.16 Mn: a Y-o-Y increase of 5.39%

Key Performance Highlights

In Q1 FY09

Revenues for the automotive vertical grew by 65.75 % Y-o-Y & revenues in Europe registered a Y-o-Y growth of 47.12 %.

Sharp focus on co-innovating technology solutions with customers

Ø Files for a fourth patent in ‘Sensor System for Vehicle Safety.’

Ø Develops an image processing based automation for cluster testing.

Ø Increases scope of engagement in the engineering space with a leading Original Equipment

Ø Manufacturer in US. Initiates a new project in the transmission space.

Ø Collaborates with a world leader in automotive interiors for multiple projects in Embedded