NIIT Technologies has registered a consolidated net profit of ₹ 111.8 crore, up 66.3 per cent, for the quarter ended September this fiscal against a consolidated net profit of ₹ 67.3 crore in the same period last year.

Consolidated revenue for the quarter increased 23.1 per cent to ₹ 907.4 crore compared with ₹ 737.2 crore last year.

The company took $160 million order for the quarter leading to $363 million of firm business executable over next 12 months. It also saw ramp up of top clients in the US and Europe. The company added five new clients in the US, three in EMEA and two in Asia Pacific.

Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd, said: “Broad based derisked growth across all verticals and significant investments in building differentiated capability while simultaneously improving margin profile were the highlights of the quarter.”

Increasing digital engagement across verticals and geographies continues to drive growth for the company. Digital revenues grew 11.6 per cent quarter-on-quarter sequentially contributing to 28 per cent of the total revenues. “Over the past few years, the company has been shifting gears and in recent quarters it has transformed completely to engage with the emerging. The business from digital has been accelerating and has grown 38 per cent year-on-year,” said Rajendra S Pawar, Chairman, NIIT Technologies Ltd, in the press statement.

In terms of geographies, Americas continued to be the largest revenue generator for the company accounting for 49 cent of revenue followed by Europe, Middle East and Africa (EMEA) at 34 per cent. India and Asia Pacific business now represents 8 per cent and 9 per cent respectively of the total revenue.

Insurance and travel are the major revenue contributors at 29 per cent and 27 per cent followed by banking and financial services at 16 per cent. As of September 2018, NIIT Technologies has 10,025 employees.

Related Topics
comment COMMENT NOW