NIIT Technologies reports 1.11% fall in Q3 net profit; shares slip over 3%

NEW DELHI: NIIT Technologies on Tuesday reported 1.11 per cent quarter-on-quarter drop in standalone net profit at Rs 28.31 crore for the quarter ended December 31, 2016 against Rs 28.63 crore in the sequential quarter ended September 30, 2016. It had reported a net profit of Rs 48.74 crore in the corresponding quarter a year ago.

Total income from operation slipped marginally by 0.74 per cent on a quarter-on-quarter basis to Rs 382.99 crore in Q3FY17 from Rs 385.84 crore in Q2FY17.

The quarter saw intake of $101 million of new business with $51 million from EMEA, $38 million from US and $12 million from RoW. Three new customers were added during the quarter, one each in the US, EMEA and APAC.

Shares of the global IT solutions company were trading 3.59 per cent down at Rs 410.60 in afternoon trade around 2.45 pm (IST). The scrip opened at Rs 418.25 and touched a high and low of Rs 433.85 and Rs 409.50, respectively, in trade so far. Benchmark BSE Sensex was trading 74.68 points, or 0.27 per cent, down at 27,213.49.