NIIT Technologies today posted 21.2 per cent increase in consolidated net profit to ₹75.6 crore for the December quarter of the current fiscal from ₹62.4 crore in the October-December quarter of last fiscal, the company said in a statement.

NIIT’s revenues increased 9 per cent to ₹756.5 crore in the third quarter of 2017-18 from ₹693.8 crore in the year-ago period, it added.

New CEO appinted

It also said that the board has approved the appointment of Sudhir Singh as the company’s Chief Executive Officer.

Besides, Arvind Thakur has been elevated to the role of Vice-Chairman and Managing Director, the statement said.

“Operating margins expanded 97 bps sequentially to 17.1 per cent as a result of growth in Digital engagements in US and Europe, Middle East and Africa (EMEA),” Singh said.

Revenues from EMEA expanded 7.2 per cent sequentially during the quarter and now accounts for 30 per cent of the revenue mix.

The US business grew 1.5 per cent sequentially contributing to 50 per cent of the mix. India and APAC business now represent 10 per cent each of the total mix.

“Continuing with the good intake in the previous quarter, fresh business of $130 million was secured during the current quarter which included 3 large deals and 8 new logos,” NIIT Technologies Vice-Chairman and Managing Director Arvind Thakur said.

The company said it continues to experience good traction in the banking, financial services and insurance (BFSI) segment with revenues expanding 4 per cent sequentially during the quarter, contributing to 43 per cent of the revenue mix.

Travel and Transportation segment grew by 4.4 per cent and now represents 27 per cent of the total revenues. Of the fresh business secured during the quarter, $82 million was from the US, $25 million from EMEA and $23 million from rest of the world.

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