NIIT Tech reports over 70 per cent jump in net profit at Rs 68.2 crore
NIIT said order intake during the quarter was $80 million, resulting in $300 million of order book executable over the next 12 months.
By PTI | Updated:
NEW DELHI: Global IT solutions provider NIIT Technologies today reported 70.3 per cent jump in net profit at Rs 68.2 crore for the quarter ended September 30 on the back of strong growth in all international geographies.
The company had posted a net profit of Rs 40.1 crore for the corresponding period last year.
The firm's consolidated revenues rose by 15.2 cent to Rs 677.9 crore for the reported period as compared to Rs 588.3 crore in the same quarter last year.
"Growth in all international geographies and industry segments of focus resulted in 8 per cent sequential growth in international business," NIIT Technologies CEO and Joint MD Arvind Thakur said here.
He added that business in the US grew 6.2 per cent sequentially, contributing 46 per cent to overall revenues, while that of Europe, Middle East and Africa (EMEA) grew by 5.8 per cent, contributing 35 per cent of overall revenues in the reported quarter.
"We have shifted the revenue mix with more business coming from international (business). We have reduced share of domestic government contracts, which now stand at 3 per cent," Thakur further said, adding that improved international revenue mix contributed to expansion in margins.
Domestic business now contributes 9 per cent of the overall revenues, while the rest comes from international.
Among industry segments, BFSI grew 8.3 per cent sequentially due to growth in insurance business in the US and NITL in UK, while travel and transportation segment grew by 6.6 per cent, the company said.
Both BFSI as well as travel and transportation segments contributed 37 per cent each to revenue mix.
Manufacturing/distribution contributed 8 per cent of the revenue mix, while the share of domestic government business reduced to 3 per cent, the company added.
NIIT said order intake during the quarter was $80 million, resulting in $300 million of order book executable over the next 12 months.
The company acquired four new customers during the reported quarter.
"New logos acquired in financial year 2014-15 scaled up during the quarter contributing to robust international growth," NIIT Technologies COO Sudhir Chaturvedi said.
The company added 364 people during the quarter, taking the headcount to 9,592. Utilisation improved to 79.7 per cent, while attrition reduced to 13.7 per cent.
The company had posted a net profit of Rs 40.1 crore for the corresponding period last year.
The firm's consolidated revenues rose by 15.2 cent to Rs 677.9 crore for the reported period as compared to Rs 588.3 crore in the same quarter last year.
"Growth in all international geographies and industry segments of focus resulted in 8 per cent sequential growth in international business," NIIT Technologies CEO and Joint MD Arvind Thakur said here.
He added that business in the US grew 6.2 per cent sequentially, contributing 46 per cent to overall revenues, while that of Europe, Middle East and Africa (EMEA) grew by 5.8 per cent, contributing 35 per cent of overall revenues in the reported quarter.
"We have shifted the revenue mix with more business coming from international (business). We have reduced share of domestic government contracts, which now stand at 3 per cent," Thakur further said, adding that improved international revenue mix contributed to expansion in margins.
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Domestic business now contributes 9 per cent of the overall revenues, while the rest comes from international.
Among industry segments, BFSI grew 8.3 per cent sequentially due to growth in insurance business in the US and NITL in UK, while travel and transportation segment grew by 6.6 per cent, the company said.
Both BFSI as well as travel and transportation segments contributed 37 per cent each to revenue mix.
Manufacturing/distribution contributed 8 per cent of the revenue mix, while the share of domestic government business reduced to 3 per cent, the company added.
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NIIT said order intake during the quarter was $80 million, resulting in $300 million of order book executable over the next 12 months.
The company acquired four new customers during the reported quarter.
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"New logos acquired in financial year 2014-15 scaled up during the quarter contributing to robust international growth," NIIT Technologies COO Sudhir Chaturvedi said.
The company added 364 people during the quarter, taking the headcount to 9,592. Utilisation improved to 79.7 per cent, while attrition reduced to 13.7 per cent.
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