Odisha News Insight

NIIT Technologies’ Net Profit surges 35.5 Percent in Q1

NIIT Technologies' Net Profit surges 35.5 Percent in Q1NIIT Technologies on Tuesday said its net profit during the first three months of the current fiscal soared by 35.5 percent at Rs.58.5 crore as against Rs.43.2 crore during April-June 2014.

For the fiscal quarter under review, the company’s consolidated revenue surged by 11 percent at Rs.641.1 crore compared with Rs.577.6 crore in the corresponding period in 2014.

“The quarter witnessed a robust 8.9 percent sequential growth in international geographies which helped maintain operating margins at 16.3 percent despite wage hikes,” company’s chief executive officer and joint managing director Arvind Thakur said in a statement.

Its business in the US grew 7.7 percent, sequentially contributing 45 percent of the overall revenue during the fiscal quarter. It also registered a growth of 4.7 percent in the EMEA (Europe, Middle East and Africa) zone, which accounted for 35 percent of the mix while APAC (Asia Pacific) and India operations drew in the rest 20 percent of the revenue.

The order intake during April-June 2015 stood at $97 million resulting in $300 million of order book executable over the next 12 months.

“With the integration of Incessant, the company acquired 15 new significant clients. In all, 17 new logos were added during the quarter,” the company’s COO Sudhir Chaturvedi said. (IANS)

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