Pune-based, KPIT Cummins Infosystems has recorded an increase in its net profit to Rs. 51 crore during the fourht quarter of the financial year 2012-2013.

The company had recorded a consolidated net profit of Rs 50.4 crore in the previous quarter of the financial year. The consolidated net sales of the company increased to Rs. 570 crore during the quarter from January to March, 2013 compared to Rs. 563 crore recorded in the quarter from October to December, 2013.

The mid-sized IT company also said that its total dollar revenue recorded a growth of 2 per cent to USD 105.5 million in the fourth quarter compared to the previous quarter. The company is expecting to generate revenues in the range of US$ 465-475 million in financial year 2013-14. As for the whole financial year 2012-2013, the net profit rose 38.01 per cent to Rs. 103.05 crore compared to Rs. 74.67 crore during the previous year. Total sales rose 16.70 per cent to Rs 715.24 crore in the year compared to Rs 612.89 crore during the previous year.

The shares of the company recorded an increase of 4.09 per cent to Rs. 101.85 at the Bombay Stock Exchange (BSE) after the company announced its fourth quarter results.