NIIT Tech Q2 profit up 14% at Rs 67.2 cr

NIIT Technologies today posted 14.4 per cent increase in consolidated profit after tax at Rs 67.2 crore for the second quarter ended September 30.
The company had registered PAT of Rs 58.9 crore in the same period a year ago.
The total revenue of the company increased by about 7 per cent to Rs 745.4 crore in the reported quarter from Rs 696.7 crore in the corresponding quarter of previous fiscal.
"Robust sequential growth during the quarter came on the back of strong growth in the US, APAC (Asia Pacific) and India," NIIT Technologies CEO and Joint MD Arvind Thakur said in a statement.

NIIT Technologies recorded 5.5 per cent growth in revenues from the US sequentially during the quarter and now contributes to 50 per cent of the revenue mix, the statement said.
"APAC and India represent 11 per cent and 10 per cent of the mix respectively. EMEA business declined 4.8 per cent sequentially on account of the ramp down in a key travel client resulting in the share of the region being 29 per cent of the total mix," the statement said.

The company said it continued to experience traction in the banking, finance service and insurance (BFSI) segment with 5.6 per cent increase in revenues on sequential quarter basis. The BFSI sector now contributes to 42 per cent to its total revenue.

Revenues from travel and transportation represent 27 per cent of NIIT Technologies' overall revenues.
Shares of NIIT Technologies were trading at Rs 622.6 a scrip, down 1.83 per cent compared to the previous close.