NIIT Technologies Q1 FY’16 PAT up 35.5%
NIIT Technologies Limited, a leading global IT solutions organization, announced its financial results for the quarter ended in June 30, 2015 with a revenue increase of 11% over the same period last year to rupee 641.1 crores. Operating Profits grew 34.5% over same period last year to rupee 104.2 crores and Profit after Tax expanded 35.5% to rupee 58.5 crores.
“The quarter witnessed robust 8.9% sequential growth in international geographies which helped maintain operating margins at 16.3% despite wage hikes” said Mr. Arvind Thakur, CEO and Joint MD, NIIT Technologies Ltd. Business in the US grew 7.7% sequentially contributing to 45% of overall revenues during the quarter. EMEA grew by 4.7% contributing to 35% of the mix, and the revenue share from APAC and India stood at 20%.
Among industry segments, BFSI grew 15.2% sequentially due to growth in new insurance accounts and integration of Incessant. BFSI now contributes to 36% of total revenues, Travel and Transportation to 37%, Manufacturing/Distribution to 6% and Government to 5% of the revenue mix. Order intake during the quarter was USD 97m resulting in USD 300m of order book executable over the next 12 months.
“With the integration of Incessant, the company acquired 15 new significant clients”, said Mr. Sudhir Chaturvedi, COO, NIIT Technologies Ltd. “In all 17 new logos were added during the quarter”, he added. The company’s strategic investment in Incessant Technologies provides it with the ability to be a leader in the Digital Integration space.
“NIIT Technologies has leapfrogged into the emerging Digital Integration space”, said Mr. Rajendra Pawar, Chairman NIIT Technologies Ltd. “14% of the company’s global revenue is now around Digital Services”.
(Source: Press release)