Millennium Post

NIIT Technologies logs 22% increase in profit to rs56.6 cr

IT solutions provider NIIT Technologies on Friday reported a 22 per cent increase in its net profit at Rs 56.6 crore for the quarter ended 31 March, 2012, backed by all-round growth especially in the travel vertical.

The Noida-based firm had posted a net profit of Rs 46.2 crore in the year-ago period, NIIT Technologies CEO Arvind Thakur said.

The consolidated revenues rose by 21 per cent to Rs 537.2 crore in the January-March quarter of last fiscal compared to Rs 443.5 crore in the same quarter of the 2011-12 fiscal.

Speaking on results, Thakur said: 'We experienced sequential growth in each quarter of the year, driven by all round expansion in revenues across all geographies and industry segments of focus over the previous year.'

The travel and transportation segment contributed 40 per cent of the revenues followed by banking, financial services and insurance (BFSI) at 32 per cent, government (8 per cent) and manufacturing (7 per cent), he added.

In terms of geographies, the US contributed 38 per cent of the revenues, Europe (37 per cent) and Asia Pacific (APAC) and India (25 per cent), Thakur said.

The company secured fresh orders worth $110 million during the January-March quarter leading to $252 million worth of orders executable over the next 12 months, he added.

The firm added 5 clients during January-March quarter, which included 2 in government, two in travel and transport vertical and one in manufacturing.

It added 276 employees in the last quarter taking its total headcount to 8,158 at the end of 31 March, 2013 of which 24 per cent are posted outside India, majorly in the US. For the entire 2012-13 fiscal, NIIT Technologies net profit rose to Rs 218.40 crore against Rs 196.44 crore in 2011-12 fiscal.

Its consolidated income rose to 2,021.36 crore from Rs 1,576.48 crore during the review period.
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