Consolidated net profit rose 2.71% to Rs 128.50 crore on a 3.36% rise in revenue from operations to Rs 1,073.40 crore in Q3 December 2019 over Q2 September 2019.
Shares of NIIT Technologies fell 3.57% to Rs 1,936.85.Consolidated profit before tax (PBT) rose 6.15% to Rs 162.10 crore in Q3 December 2019 over Rs 152.70 crore in Q2 September 2019. Tax expense during the quarter jumped 11.82% to Rs 47.30 crore as compared to Rs 42.30 crore in Q2 September 2019. The Q3 result was declared during trading hours today, 29 January 2020.
The consolidated Earnings before interest, tax, depreciation and amortization (EBITDA) grew 2.2% to Rs 194 crore in Q3 December 2019 as compared to Rs 189.80 crore in Q2 September 2019. The EBITDA margin fell to 18.1% in Q3 December 2019 as against 18.3% in Q2 September 2019.
In reported terms, BFS contracted 1.3% Q-o-Q contributing to 16.0% of revenue, travel transportation and hospitality (TTH) was up 6.2% Q-o-Q contributing to 28.5% of revenue and insurance grew 0.2% Q-o-Q contributing 30.2% of overall revenues.
Meanwhile, America, EMEA, and ROW contributed 48%, 37%, and 15% of the revenue mix. Fresh business of $218 million was secured by the company during the quarter. As a result, the order book executable over the next twelve months has also increased to $424 million.
Commenting on the results, Sudhir Singh, the chief executive officer of NIIT Technologies, has said that, The firm registered a robust performance in the quarter across key parameters including revenue, earnings, cashflow, and deal wins, in line with our stated intent to drive robust, predictable and profitable growth.
The board has also declared second interim dividend of Rs 10 per equity share (i.e. at the rate of 100%) for the financial year 2019-20. The record date for this payout will made on Monday, 10 February 2020.
NIIT Technologies is an IT solutions organization, servicing customers in North America, Europe, Japan, Asia and Australia. It offers information technology solutions services in application development and maintenance, enterprise solutions including managed services, cloud computing and business process outsourcing management to organizations in a number of sectors viz. financial services, insurance, travel, transportation & logistics, retail, manufacturing & distribution and government sectors.
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