IT services company NIIT Technologies on Tuesday reported a 12.5 per cent drop in its net profit to Rs 56 crore for the quarter ended 31 December 2012 due to softness in the banking, financial services and insurance segment.
The company reported a net profit of Rs 64 crore in the corresponding quarter last year. Consolidated revenue was, however, up 18.8 per cent to Rs 514 crore for Q3 of FY13. ‘Revenues grew 4.4 per cent sequentially in constant currencies during the quarter reflecting the sustained growth momentum of the company,' said CEO Arvind Thakur.
The company reported a net profit of Rs 64 crore in the corresponding quarter last year. Consolidated revenue was, however, up 18.8 per cent to Rs 514 crore for Q3 of FY13. ‘Revenues grew 4.4 per cent sequentially in constant currencies during the quarter reflecting the sustained growth momentum of the company,' said CEO Arvind Thakur.