MUMBAI: NSE: KPITTECH BSE: 542651: KPIT Technologies, a global leader in building mobility solutions for a cleaner, smarter, and safer world, announced financial results for Q3 FY26.  

Performance overview:

• Q3 FY26 Revenues
  • Revenues of 181MN with ₹ YoY Growth of 9.4%, $ YoY Growth of 3.0%
  • QoQ ₹ growth of 1.9% and reported $ growth of 0.2%
  • Growth led by Off-Highway sub-vertical;  Powertrain, After-Sales, and  Diagnostics domains
• Q3 FY26 Profitability
  • EBITDA margin at 20.6% post absorbing partial wage hikes during the quarter
  • EBITDA growth of 6.8% YoY and flattish QoQ
  • EBIT at 15.6%
• Revenue Quality

• Fixed-price programs as a proportion of revenue continue to rise, enabling AI-infused solutions penetration
• Revenue per person has consistently improved
• Healthy Cash Generation continues – Net cash at ₹ 9.0 Bn as at quarter end

Leadership Strengthening:

• Mr. Anup Sable appointed as Chief Operating Officer
• Strengthened the Chief Technology Office team structure with homegrown leaders and group companies to strengthen solutioning abilities

Commenting on the performance of Q3 FY26

Kishor Patil, Co-founder, CEO, and MD, KPIT, said,

“Mobility is moving from software-defined to AI-defined, and we are making deliberate investments to stay ahead by reimagining the software lifecycle, improving quality and speed, and bringing AI-infused solutions to our clients. These solutions are now validated and are being implemented on production programs, portrayed by an increase in our fixed price contracts and per-person revenue. Mobilizing Change is our strategic direction for the next phase – shift from effort-led services to outcome-led solutions to increase the value we deliver and the value we capture. As OEMs push for faster time-to-market, reliability, and cost efficiency, KPIT is positioned to fortify its leadership and enable steady high-quality growth in the medium term.”

Sachin Tikekar, Co-founder and Joint MD, KPIT, said,

“We are seeing client partnerships deepen as OEMs look for trusted teams who can take stronger ownership and deliver end-to-end outcomes. We see increased traction in trucks and off-highway sub-verticals as we integrate Caresoft operations. Mobilizing Change is also a talent story, and we are building a solutioning mindset at scale with our home-grown leaders ascending, as well as select external leadership hiring. The market is shifting tectonically – new entrants, regulations, and AI-led disruption are rewriting the rules. Our clear intent is to move beyond ‘SDV’ to what the industry is becoming – ‘AI-defined Mobility’ and ensure our investments, practices, leadership, and delivery depth keep compounding our front-runner advantage.”

Other highlights of Q3 FY26

• KPIT Partners with HMC HIVE to Drive Innovation in Light Electric Vehicles. Mark’s foray into the micromobility segment

• KPIT reimagines the future of Mobility Software with Agentic AI Solutions on Microsoft AI Infrastructure. Microsoft features KPIT as a Frontier Firms in AI from India and Southeast Asia

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PUNE: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, witnessed a strong Q2FY25 marked by substantial growth. The Company reported a remarkable 34% year-on-year growth in Individual Rated New Business (IRNB), reaching INR 1,895 crores compared to INR 1,415 crores in Q2 FY24. The New Business Premium also showed strong year-on-year growth of 14% from INR 2,821 crore in Q2FY24 to INR 3,202 crore in Q2FY25, while Gross Written Premium registered a significant 23% increase from INR 5,338 crore in Q2FY24 to INR 6,544 crore in Q2FY25.

Bajaj Allianz Life recorded an increase in private sector market share to 8.9% and an overall industry share of 6.1%. This growth reflects the Company’s strong performance across its distribution channels that are continuously focussing on driving insurance awareness and penetration in diverse markets across the country.

KEY NUMBERS FOR Q2 FY25:

• Individual Rated New Business (IRNB) surged by 34% to reach INR 1,895 crores from INR 1,415 crores in Q2 FY24
• Gross Written Premium (GWP) grew by 23% to INR 6,544 crores compared to INR 5,338 crores in Q2 FY24
• Assets Under Management (AUM) increased by 25% to INR 1,23,178 crores as of 30^th September, 2024 from INR 98,700 crores as of 30^th September, 2023
• Profit After Tax in Q2FY25 was reported at INR 148 crores
• New Business Value (NBV) grew by 3% to INR 245 crores from INR 237 crores in Q2 FY24
• Private market share expanded to 8.9% from 8.3% in Q2 FY24
• Individual Premium demonstrated strong growth of 32% reaching INR 2,080 crores compared to INR 1,578 crores in Q2 FY24

Bajaj Allianz Life Insurance remains committed to expanding its footprint across tier 2 and tier 3 markets while strengthening its product portfolio to address diverse customer needs. With over 562 branches, over 1.59 lakh agents, 372 institutional partners including 35 bank partnerships, over 26K employees, and a robust digital presence, the Company is reaching existing and new customers in an effective manner.

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Hilton also continued to strengthen its development pipeline with record 2023 signings of nearly 1,000 hotels representing 130,000 rooms, up 45% from the prior year and meaningfully ahead of pre-pandemic levels. The company’s pipeline is now the largest in its history with nearly 3,300 hotels, totaling more than 462,000 rooms. 

Hilton delivered another year of strong construction starts, up 15% over 2022 and approaching pre-pandemic levels. Hilton now has more new rooms under construction than any other hotel company with approximately one in every five hotel rooms under construction globally slated to join the company’s portfolio.

“Our team is delivering robust results, supported by the power of our brands, our award-winning culture, and strong commercial engines,” said Chris Nassetta, president and CEO, of Hilton. “Premium products and exceptional levels of service are driving strong customer demand for our hotels around the world, while better returns are supporting strong owner interest. We continue to feel very good about our prior net unit growth guidance of 5.5% to 6.0% in 2024, with strong indications towards the higher end of the range based on the positive momentum we are seeing in signings and construction starts.”

The company’s growth opportunities are further boosted by the recent addition of two new brands to its portfolio – Spark by Hilton and LivSmart Studios by Hilton – which is driving strong activity with owners looking to tap into the growing demand for hotels in the premium economy and long-stay segments.

“Hilton’s development results continue to be an indicator of how well-positioned we are for long-term growth,” said Kevin Jacobs, CFO and president, of global development, at Hilton. “Hotel owners choose to work with us because of the strength of our growing portfolio of brands and our premium commercial performance. This owner preference drives our capital-light growth and fuels our network effect, which helps us continue to deliver value for all our stakeholders.”

Hilton ended 2023 with more than 7,500 properties in 126 countries and territories, expanding options for guests nearly anywhere they want to travel. On average, more than one new hotel per day was added to Hilton’s global portfolio. 

The company also welcomed more guests in 2023 than ever before with more than 213 million travelers staying at Hilton properties around the world. Hilton Honors, the company’s award-winning loyalty program, ended the year with a record membership of more than 180 million members.

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INDIA: CrowdStrike Holdings, a global cybersecurity leader, has announced its financial results for the second quarter of fiscal year 2024, ending July 31, 2023. The company reported a 37% YoY increase in total revenue, reaching $731.6 million, with subscription revenue growing by 36% YoY to $690.0 million. CrowdStrike’s Annual Recurring Revenue (ARR) also increased by 37% YoY to $2.93 billion. The company’s GAAP subscription gross margin was 78%, while non-GAAP subscription gross margin was 80%. CrowdStrike’s CEO, George Kurtz, attributed the strong growth to the AI-powered Falcon platform’s unique capabilities across cloud, identity, and next-gen SIEM businesses. The company also achieved new milestones for both GAAP and non-GAAP profitability in the second quarter.

CrowdStrike’s module adoption rates increased to 63%, 41%, and 24% for five or more, six or more, and seven or more modules, respectively, as of July 31, 2023. The company was also named the 2023 US ISV Partner of the Year by Amazon Web Services (AWS) and recognized as a cloud security leader in Frost & Sullivan’s 2023 Frost RadarTM: Cloud Workload Protection Platform. CrowdStrike was also named a Customers’ Choice in the 2023 Gartner Peer InsightsTM Voice of the Customer for Managed Detection and Response Service report and a leader in The Forrester WaveTM: External Threat Intelligence Service Providers, Q3 2023 report.

In addition, CrowdStrike received the Best Enterprise Security Solution and Best Managed Detection and Response Service awards in the 2023 SC Awards and the Best Endpoint Security award in the SC Awards Europe 2023. The company also unveiled new Falcon Cloud Security innovations, including ‘1-Click XDR’ to automatically identify and secure unmanaged cloud assets, and launched CrowdStrike Counter Adversary Operations, bringing together market-leading threat intelligence, threat hunters, and artificial intelligence.

Overall, CrowdStrike’s strong Q2 FY2024 results demonstrate the company’s continued growth and success in the cybersecurity market.

“CrowdStrike delivered strong growth at scale, exceeding our guidance across both top and bottom line metrics in the second quarter,” said George Kurtz, CrowdStrike’s president, chief executive officer, and co-founder. “The AI-powered Falcon platform’s native capabilities across our cloud, identity, and next-gen SIEM businesses are unique in the market, in aggregate contributing well over half a billion dollars in ending ARR. Our platform strategy sets us apart from the competition, resulting in high win rates as customers rapidly embrace Falcon to consolidate vendors, lower TCO, and achieve better security outcomes.”

Commenting on the company’s financial results, Burt Podbere, CrowdStrike’s chief financial officer, added, “Our relentless focus on execution and operational excellence drove strong profitable growth at scale and new milestones for both GAAP and non-GAAP profitability in the second quarter. We achieved our target model range for non-GAAP operating margin for the first time in company history, well ahead of our planned timeline, and now expect to exit the year with a fourth-quarter non-GAAP operating margin within our target model. Beyond fiscal 2024, we expect to sustainably deliver non-GAAP operating margin within the target model on an annual basis.”

Second Quarter Fiscal 2024 Financial Highlights

• Revenue: Total revenue was $731.6 million, a 37% increase, compared to $535.2 million in the second quarter of fiscal 2023. Subscription revenue was $690.0 million, a 36% increase, compared to $506.2 million in the second quarter of fiscal 2023.
• Annual Recurring Revenue (ARR) increased 37% year-over-year and grew to $2.93 billion as of July 31, 2023, of which $196.2 million was net new ARR added in the quarter.
• Subscription Gross Margin: GAAP subscription gross margin was 78%, compared to 76% in the second quarter of fiscal 2023. Non-GAAP subscription gross margin was 80%, compared to 78% in the second quarter of fiscal 2023.
• Income/Loss from Operations: GAAP loss from operations was $15.4 million, compared to $48.3 million in the second quarter of fiscal 2023. Non-GAAP income from operations was $155.7 million, compared to $87.3 million in the second quarter of fiscal 2023.
• Net Income/Loss Attributable to CrowdStrike: GAAP net income attributable to CrowdStrike was $8.5 million, compared to a loss of $49.3 million in the second quarter of fiscal 2023. GAAP net income per share attributable to CrowdStrike, diluted, was $0.03, compared to a loss of $0.21 in the second quarter of fiscal 2023. Non-GAAP net income attributable to CrowdStrike was $180.0 million, compared to $85.9 million in the second quarter of fiscal 2023. Non-GAAP net income attributable to CrowdStrike per share, diluted, was $0.74, compared to $0.36 in the second quarter of fiscal 2023.
• Cash Flow: Net cash generated from operations was $244.8 million, compared to $209.9 million in the second quarter of fiscal 2023. Free cash flow was $188.7 million, compared to $135.8 million in the second quarter of fiscal 2023.
• Cash and Cash Equivalents were $3.17 billion as of July 31, 2023.

Recent Highlights

• CrowdStrike’s module adoption rates increased to 63%, 41%, and 24% for five or more, six or more, and seven or more modules, respectively, as of July 31, 20231.
• Received the 2023 US ISV Partner of the Year award from Amazon Web Services (AWS).
• Named a cloud security leader in Frost & Sullivan’s 2023 Frost Radar: Cloud Workload Protection Platform2.
• Recognized as a Customer’s choice in the 2023 Gartner Peer Insights Voice of the Customer for Managed Detection and Response Service report3.
• Named a leader in The Forrester Wave: External Threat Intelligence Service Providers, Q3 2023 report4.
• Recognized as the Best Enterprise Security Solution and Best Managed Detection and Response Service in the 2023 SC Awards and Best Endpoint Security winner in the SC Awards Europe 2023.
• Announced that CrowdStrike Falcon® Identity Protection won the 2023 CRN Tech Innovator award as the best solution in the Identity and Access Management category.
• Received highest level certification in Spanish National Cryptologic Center (CCN) STIC Products and Services Catalog (CPSTIC).
• Unveiled new Falcon Cloud Security innovations, including ‘1-Click XDR’ to automatically identify and secure unmanaged cloud assets.
• Announced the launch of CrowdStrike Counter Adversary Operations, bringing together market-leading threat intelligence, threat hunters, and artificial intelligence.
• Released the CrowdStrike 2023 Threat Hunting Report, which revealed a massive increase in identity-based intrusions and growing expertise by adversaries targeting the cloud.

The post CrowdStrike Reports Strong Q2 FY2024 Results with 37% YoY Revenue Growth appeared first on NRI News.

• Revenue of Rs 13,244 mn*, EBITDA of Rs 1,003 mn*, and PAT loss of Rs -441 mn* for the quarter
• Patrons visiting our cinemas: 33.9 mn (increase of 11% QoQ).
• Average ticket price of Rs 246 (increase of 3% QoQ)
• Average F&B spend per patron of Rs 130 (increase of 9% QoQ)
• 31 new screen openings across 5 properties during the quarter.
• As of date, PVR INOX operates 361 cinemas with 1,707 screens across 114 cities

* Numbers excluding the impact of Ind AS 116-‘Leases

GURUGRAM: PVR INOX Limited today announced its unaudited consolidated financial results for the quarter ended June 30, 2023.

As the appointed date for the PVR INOX merger was January 1st, 2023; Q4 FY’23 & Q1 FY’24 results for the company are reported on a merged basis for PVR and INOX and are not comparable with Q1 FY’23.

The Appointed date for the merger of PVR Limited and INOX Leisure Limited was 1st January 2023. Consequently, Q4 FY’23 and Q1 FY’24 results for the company are reported on a merged basis for PVR INOX and are not comparable with earlier periods

Sequentially, the quarter witnessed an 11% increase in admissions from 30.5 million admissions in Q4 FY’23 to 33.9 million admissions in Q1 FY’24. Average ticket price and Spend per head on Food & Beverage increased by 3% and 9%. Driven by strong operating performance, ticket sales increased by 15% and Food & Beverage sales increased by 22% quarter on quarter. Ad income in Q1 FY’24 remained at almost the same level as in Q4 FY’23.

The quarter witnessed a muted start in April, with limited movie releases in Hindi. The box office picked up pace in the month of May with the release of, ‘The Kerala Story’ which turned out to be the biggest release of this quarter along with other superhits like ‘Fast X’ and ‘Guardians of the Galaxy Vol. 3’ from Hollywood, and ‘2018’ from Malayalam. The momentum continued in June with the release of ‘Adipurush’, which recorded the highest weekend admissions in 2023. Unfortunately, the movie did not do well post its first weekend. Other movies that delivered reasonable performances were ‘Spiderman: Across the Spiderverse’, ‘The Flash’, and ‘Transformers: Rise of the Beasts Hollywood. Regional movies like ‘Carry on Jatta 3’ in Punjabi and ‘Baipan Bhari Deva’ in Marathi, which was released towards the end of the quarter, have achieved remarkable record-breaking success.

Q1 FY’24 saw the release of the highest number of Hollywood movies post-pandemic, which, combined with a robust performance at the Box Office, led to an impressive growth of 70% in quarter-on-quarter box office collections for Hollywood films. The recent success of Hollywood blockbusters like ‘Oppenheimer’, ‘Mission Impossible: Dead Reckoning Part 1’ and ‘Barbie’ reaffirms our belief that the audience’s enthusiasm for theatrical moviegoing remains intact when there is compelling content.

Looking forward to FY’24, we are optimistic about the robust content lineup across all languages. Our upcoming release slate includes several highly anticipated Hindi movies such as ‘Oh My God 2’ starring Akshay Kumar, ‘Gadar 2’ starring Sunny Deol, and ‘DreamGirl 2’ starring Ayushman Khurana in August; ‘Jawaan’ starring Shahrukh Khan in September; ‘Ganapath’ starring Tiger Shroff and ‘Tejas’ starring Kangana Ranaut in October; ‘Tiger 3’ starring Salman Khan in November; ‘Yodha’ starring Sidharth Malhotra and ‘Dunki’ starring Shahrukh Khan in December.

We are equally excited about upcoming Hollywood releases, including ‘The Meg 2: The Trench‘, ‘Blue Beetle’, ‘Teenage Mutant Ninja Turtles: Mutant Mayhem’, ‘Gran Turismo’ and ‘Retribution’ in August; ‘The Equalizer 3’, ‘The Nun 2’, ‘A Haunting in Venice’, ‘My Big Fat Greek Wedding 3’, ‘Dumb Money’ and ‘Expendables 4’ in September; ‘Kraven: The Hunter’, ‘Paw Patrol: The Mighty Movie’, ‘The Exorcist: Believer’, ‘Killers of the Flower Moon’, ‘Saw 10’ 3 in October; ‘Dune part 2’, ‘The Marvels’, Disney’s ‘Wish’ & ‘Napoleon’ in November among others.

From the Regional genre, we have, ‘Jailer’ starring Rajinikanth, ‘Bhola Shankar’ starring Chiranjeevi, and ‘King of Kotha starring Dulquer Salmaan in August; ‘Kushi‘ starring Vijay Deverekonda and Samantha Prabhu, ‘Viduthalai Part 2’ starring Vijay Sethupathi and ‘Salaar’ starring Prabhas in Sep’23, among others.

During the quarter, PVR INOX opened 31 new screens in 5 cinemas. We exited 14 underperforming screens across 4 cinemas in line with our focus on profitable growth. These planned exits form part of the guidance we had given in the last quarter.

As of date our screen portfolio (including 38 management screens) stands at 1,707 screens across 361 cinemas in 114 cities in India and Sri Lanka.

Commenting on the results and performance, Mr. Ajay Bijli, Managing Director, PVR INOX Ltd., said, “The exceptional performance of Hollywood movies both in terms of the increase in number of releases year on year and the box office collections during the quarter reinforces our belief in consumers love for theater-going. It’s heartening to see the blockbuster success of unconventional movies like Barbie and Oppenheimer in India, clearly indicating that audiences choose the big screen for a unique cinema experience. Notably, the Hindi Box office has shown a gradual reduction in QoQ volatility, accompanied by improved performance of mid-scale Hindi movies, indicating a growing appetite for fresh Hindi content among audiences. We strongly believe that as we progress through the rest of the year, we will witness a rising trend of Box Office across all genres.”

The post PVR INOX Announces Results For The Quarter That Ended June 2023 appeared first on NRI News.

Deposits being driven by a retail mix

• Total deposits grew 44%/4% YoY/QoQ to ₹ 26,655 crore from ₹ 18,449 crore/ ₹ 25,538 crore in Jun’22/Mar’23
• The excess liquidity was brought down, moving toward a comfortable level
• CASA growth is moderate, with continued movement from CASA to term deposits; up 27% YoY, down 3% QoQ

Disbursement and Advances: Robust growth continues

• Advances are up 31%/5% YoY/QoQ to ₹ 25,346 crore from ₹ 19,409 crore/ ₹ 24,085 crore in Jun’22/Mar’23
• Disbursement momentum continues to show strength with 22% YoY growth; ₹ 5,280 crores for Q1FY24 – driven by robust growth in Microbanking, Housing, and FIG
• Affordable Housing# continues strong quarterly disbursement with ₹ 418 crore up 45% YoY; Gross loan book close to ₹ 3,700 crore book

Collections continue to be strong leading to further improvement in GNPA

• Strong collections across all buckets including restructured and NPA book. NDA collections in MicroBanking at 99.5%+ in line with pre-covid days
• Credit quality continues to improve with PAR/GNPA at 3.8%/2.4% vs 3.8%/2.6% as on Mar 31, 2023

The post Ujjivan Small Finance Bank for the quarter ended June 30, 2023 appeared first on NRI News.

Business Highlights

                                                                                                                                   (All amounts in INR million)

Summarising the Q1’23 performance, Farrokh Bhathena, Vice President of Sales and Marketing, KSB Limited said, “This quarter we have registered stellar performance with highest ever order intake of INR 6764 Mio in Q1 2023 from conventional business. Our sales achieved for the quarter are 17% higher than that of the corresponding Q1 2022.  Despite the complex macroeconomic environment and shrinking margins, we are poised to leverage growth opportunities in our key markets. These impressive results are due to our strong focus on growth strategy. In addition, the greater customer trust in our product portfolio and our strong execution capabilities also add up to KSB’s growth momentum. Our strong order backlog with new upcoming orders gives a flying start and confidence for fiscal 2023.”  

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