NIIT Technologies Q3 FY?18 PAT up 21.2% YoY - Board appoints Su

NIIT Technologies Q3 FY?18 PAT up 21.2% YoY - Board appoints Su

Chennai, January 19th 2018, Friday: NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for the quarter ended in December 31, 2017 with revenue expanding 2.6% sequentially to Rs 756.5 Crores representing an increase of 9.0% over same period last year. Operating Profits expanded 8.7% QoQ or 11.4% YoY to  Rs 129.5 Crores and Profit after Tax improved 21.2% over same period last year to 75.6 Crores.

Qtr performance at a glance

 

Qtr ended

Qtr ended

Growth

Particulars

 

 

 

31-Dec-16

31-Dec-17

YoY

 

Cr

Cr

 

Consolidated Revenues

693.8

756.5

9.0%

Operating Profit

116.2

129.5

11.4%

Operating Margin

16.8%

17.1%

37 bps

Profit After Tax

62.4

75.6

21.2%

The board approved the appointment of Sudhir Singh as Chief Executive Officer of NIIT Technologies Ltd. Arvind Thakur was elevated to the role of Vice Chairman and Managing Director.

“It will be a privilege to lead the company on to its next growth trajectory”, said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd. “Sequential growth during the quarter came on the back of traction in our two key segments of Travel and BFSI. Operating Margins expanded 97 bps sequentially to 17.1% as a result of growth in Digital engagements in US and EMEA”, he added.

The company continued to experience good traction in the BFSI segment with revenues expanding 4.0% sequentially during the quarter contributing to 43% of revenue mix. Travel & Transportation segment grew by 4.4% and now represents 27% of total revenues.

Revenues from EMEA expanded 7.2% sequentially during the quarter which now contributes to 30% of the revenue mix. US grew 1.5% sequentially contributing to 50% of the mix. India and APAC business now represents 10% and 10% of the total mix.

Sudhir has infused new energy into the organization which is reflected in our vastly improved deal momentum and we look forward to his leadership to embrace new opportunities”, said Mr. Arvind Thakur, Vice Chairman & Managing Direct