NIIT Technologies Q1FY'19 PAT up 67.4%

NOIDA, India, July 18, 2018 /PRNewswire/ --

Q1 FY19 revenues grow 4.6% sequentially 

NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q1 FY18-19 resulting in revenues of ₹824.9 Crores, operating profits at ₹130.6 Crores and net profits at ₹85.8 Crores.

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Q1 Highlights:  

• Revenues grow 16.4% YoY and 4.6% sequentially  
• Operating Profits improve by 17.9% YoY 
• Operating Margins expand by 21 bps YoY 
• Fresh Order intake expands further to USD 151 Mn 

Consolidated revenue for the quarter grew 16.4 % over the same period last year and 4.6% sequentially to ₹824.9 Crores. Operating profits at ₹130.6 Crores represented a growth of 17.9% over the same period last year and were down by 7.8% sequentially. Profit after Tax represents a growth of 67.4% YoY to ₹85.8 Crores.

Table below provides a summary of quarter performance.

   
                            Qtr. ended  Qtr. ended Growth
                             30-Jun-18   30-Jun-17    YoY
      Particulars                Cr          Cr
    Consolidated Revenues       824.9       708.9   16.4%
    Operating Profit            130.6       110.8   17.9%
    Operating Margin            15.8%       15.6%  21 bps
    Profit After Tax             85.8        51.3   67.4%

"This strong performance came on the back of growth across all three of our major verticals. Operating margins during the qtr. were impacted by wage hikes and visa costs which are seasonal, and improved 21 bps over same period last year," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd. "Significant increase in new logo acquisition, broad based revenue growth across industry verticals and accelerating order book generation from the western markets has materially improved the revenue profile of the company."

Insurance vertical grew 10.0% during the quarter contributing to 28.5% of total revenues. BFS vertical grew 8.8% during the quarter contributing to 16.8% of total revenues. Revenues in Travel & Transportation segment is up 7.7% and represents 27.1% of the revenue mix. Share of other segments remained at 27.6%.

Revenues from US grew 8.0% sequentially contributing to 50% of the revenue mix. EMEA expanded 6.0% sequentially during the quarter which now contributes to 32% of the mix. India and APAC business now represents 8% and 10% respectively of the total mix.