NIIT Technologies Q2 FY2019 PAT up 66.3% YoY

NOIDA, India, October 17, 2018 /PRNewswire/ --

Revenues grow 10% QoQ  

NIIT Technologies Limited (NSE: NIITTECH), a leading global IT solutions organization, today announced its financial results for Q2 FY2019 resulting in revenues of ₹907.4 Crores, operating profits at ₹163.4 Crores and net profits at ₹111.8 Crores.

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Q2 Highlights:  

• Robust revenue growth -- Revenues up 23.1% YoY and 10.0% QoQ   
• Strong improvement in Operating Profits, by 37.2% YoY and 25.1% QoQ  
• Operating Margins expand by 186 bps YoY and 217 bps QoQ  
• Fresh Order Intake expands to USD 160 Mn  

Consolidated revenue for the quarter grew 23.1 % over the same period last year and 10.0% sequentially to 907.4 Crores. Operating profits at 163.4 Crore represented a growth of 37.2% over the same period last year and 25.1% sequentially. Profit after Tax represents a growth of 66.3% YoY to 111.8 Crores.

Table below provides a summary of quarter performance.

   
         Particulars      Qtr. Ended Qtr. Ended Growth  Qtr. ended  Growth
                          30-Sep-18  30-Jun-18    QoQ    30-Sep-17    YoY
                              Cr         Cr                 Cr
    Consolidated Revenues   907.4      824.9     10.0%     737.2     23.1%
    Operating Profit        163.4      130.6     25.1%     119.1     37.2%
    Operating Margin        18.0%      15.8%    217 bps    16.2%    186 bps
    Profit After Tax        111.8       85.8     30.3%     67.2      66.3%

"The extremely robust 10% sequential revenue growth and the 217 bps sequential improvement in Operating Margin is a reflection of the new normal as we target predictable and fast scaling profitable growth," said Mr. Sudhir Singh, Chief Executive Officer, NIIT Technologies Ltd. "Broad based de-risked growth across all verticals and significant investments in building differentiated capability while simultaneously improving margin profile were the highlights of the quarter."

Insurance vertical grew 11.2% during the quarter contributing to 28.8% of total revenues. BFS vertical grew 6.2% during the quarter contributing to 16.2% of total revenues. Revenues in Travel & Transportation segment is up 9.2% and represents 26.9% of the revenue mix. Share of other segments remained at 28.0%.