1. NIIT Technologies Q3 net profit up 54% to Rs 74.2 crore

NIIT Technologies Q3 net profit up 54% to Rs 74.2 crore

IT firm NIIT Technologies today said its net profit has increased 53.9 per cent to Rs 74.2 crore for the December quarter on the back of better operational efficiency and improved tax rates.

By: | New Delhi | Published: January 15, 2016 4:15 PM
s net profit stood at Rs 48.2 crore in the same period last fiscal.(Reuters)

NIIT Technologies net profit stood at Rs 48.2 crore in the same period last fiscal.(Reuters)

IT firm NIIT Technologies today said its net profit has increased 53.9 per cent to Rs 74.2 crore for the December quarter on the back of better operational efficiency and improved tax rates.

The company’s net profit stood at Rs 48.2 crore in the same period last fiscal.

“The growth came on multiple accounts. We saw expansion of operating margins by 60 basis points. Also, there was an improvement in tax rates and benefit from higher other income,” Arvind Thakur, CEO and Joint MD, NIIT Technologies told PTI.

For the reported quarter, NIIT saw its revenues grow by 14 per cent to Rs 678.7 crore as against Rs 595.3 crore in the year-ago period.

In terms of geographies, the US contributed 46 per cent to overall revenues, while Europe, the Middle East and Africa (EMEA) accounted for 34 per cent. Asia Pacific’s contribution was 10 per cent to the revenues.
Revenues from India contributed 10 per cent of the mix.

Among various industry segments, BFSI grew by 2.1 per cent contributing 38 per cent to total revenues, while travel and transportation revenues declined by 3.7 per cent (36 per cent of revenue mix).

“The order intake during the quarter was USD 123 million resulting in USD 301 million of order book executable over the next 12 months. We see a good deal pipeline ahead,” Thakur said.

The digital segment accounted for 15 per cent of the company’s revenues and this sector will see a strong momentum in the ongoing quarter, he added.

During the reported quarter, the company added 4 new logos (clients), including a large engagement from the UK regulator Ofcom.

The company’s headcount stood at 9,517 at the end of the quarter, with utilisation of direct resources at 78.7 per cent. The attrition rate was recorded at 13.6 per cent.

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