Mid-size IT services provider NIIT Technologies Ltd profit after tax for the second quarter of FY13 ended September 30, 2012, declined 5.8 per cent and stood at Rs 43.1 crore compared to the same period. The revenues of the company for the July-September period stood at Rs 500 crore registering a growth of 34.8 per cent as against the same period last year.
For the three month period ended September 30 the operating margin of the company went up by 214 bps. On a sequential basis the company's consolidated revenues grew 6.5 per cent sequentially while the operating profits grew 13 per cent. NIIT Tech has reported a forex loss of Rs 15 crore in the July-September quarter.
“We are pleased to report yet another quarter of significant growth with international revenues growing sequentially by 8.9 per cent. Our operating profits grew even better than the revenues. However, loss in other income due to the appreciating rupee at the end of the quarter resulted in a decline in net profits,” said Arvind Thakur, Chief Executive Officer, NIIT Technologies Ltd.
On a geographical basis, the EMEA continued to be the biggest contributor to the revenues with a share of 39 per cent, the US contributed 38 per cent of revenues, while the revenue share from APAC and India stood at 23 per cent. Among industry segments, travel and transport continued to exhibit robust growth increasing revenue share to 42 per cent, BFSI contributed to 33 per cent of revenues and manufacturing / distribution stood at 6 per cent.
During the quarter, the company secured $93 million worth fresh orders which included new business from an existing client of $20 million leading to $253 million of order book executable over the next 12 months. The company also signed an agreement to acquire Sabre Holdings Philippines Development Center in Manila.
It made a net addition of 173 people, taking its headcount to 7,617 at the end of September 30, 2012.
The shares of the company were trading at Rs 285.50 per share, up 0.94 per cent against the previous day's close.
