Shares of KPIT Technologies rose 5% to hit an all-time high of Rs 948.30 on the BSE in intraday trade on Thursday. Over the past two sessions, the stock has soared 11% after the IT company reported solid earnings for Q4FY23 and healthy guidance for FY24. The stock surpassed the previous high of Rs 946.50 on March 31, 2023.

KPIT reported QoQ growth of 8.5% in constant currency (CC) in Q4FY23, while revenue rose 12% QoQ to $123.8 million in USD terms. In rupee terms, revenue grew 10.9% quarter-on-quarter.

The company’s EBITDA increased 60 basis points sequentially to 19.1%, driven by revenue growth and operating efficiencies.

The company added 523 net new hires and LTM attrition during the quarter. The company earned $423 million in TCV during the quarter, including $250 million in TCV from Honda.

Growth was led by strategic customers, middleware and architecture, autonomy and diagnostics, KPIT said. Compared with the previous quarter, Technica’s revenue rose slightly. It added that Q4FY23 also witnessed strategic new engagement closures.

Meanwhile, for FY24, the company guided for CC revenue growth of 27-30% and an EBITDA margin of 19-20%.

“We’ve delivered 11 consecutive quarters of healthy revenue and operating profit growth. Building on solid quarterly and annual results, recent major events and committed software spending from our strategic customers, we see strong demand and higher visibility over the next 3-4 years,” management said.