 "NIIT Technologies rebounds from 52-week low post Q4 results")
Shares of NIIT Technologies moved higher by 13% to Rs 405, bouncing back 24% from their early morning low on the NSE, after the company said its consolidated operating profits improved by 15.6% sequentially to Rs 99.7 crore in March 2015 quarter (Q4).
Consolidated revenues for the quarter grew 2.7% sequentially to Rs 611 crore, while operating margins were up 183 basis points quarter on quarter at 16.3%, NIIT Technologies said in a release.
“Robust growth in the US contributed to strong sequential growth during the quarter”, said Mr. Arvind Thakur, Chief Executive Officer, NIIT Technologies.
“Cross currency headwinds in Europe impacted reported revenues. In constant currency, revenues expanded 3.3% sequentially,” adds Thakur.
Meanwhile, the company reported a post-tax loss of Rs 17.5 crore during the quarter mainly due to an exceptional expense of Rs 80 crore on account of a settlement agreement between one of the company's subsidiaries and its client in the APAC region.
The company said, it signs definitive agreement with Incessant to acquire 51% stake for foray into Digital Integration.
Meanwhile, the board recommended Rs 9.50 per equity share as dividend for FY’15.
The stock opened at Rs 356 and touched a 52-week low of Rs 326 on the NSE in early morning trade. A combined 724,308 shares change hands on the counter on the NSE and BSE.
At 1508 hours, the stock was up 11% at Rs 397 on the NSE.
Consolidated revenues for the quarter grew 2.7% sequentially to Rs 611 crore, while operating margins were up 183 basis points quarter on quarter at 16.3%, NIIT Technologies said in a release.
“Robust growth in the US contributed to strong sequential growth during the quarter”, said Mr. Arvind Thakur, Chief Executive Officer, NIIT Technologies.
“Cross currency headwinds in Europe impacted reported revenues. In constant currency, revenues expanded 3.3% sequentially,” adds Thakur.
Meanwhile, the company reported a post-tax loss of Rs 17.5 crore during the quarter mainly due to an exceptional expense of Rs 80 crore on account of a settlement agreement between one of the company's subsidiaries and its client in the APAC region.
The company said, it signs definitive agreement with Incessant to acquire 51% stake for foray into Digital Integration.
Meanwhile, the board recommended Rs 9.50 per equity share as dividend for FY’15.
The stock opened at Rs 356 and touched a 52-week low of Rs 326 on the NSE in early morning trade. A combined 724,308 shares change hands on the counter on the NSE and BSE.
At 1508 hours, the stock was up 11% at Rs 397 on the NSE.