NIIT Technologies was down 1.37% to Rs 1335.15 at 13:33 IST on the BSE after consolidated net profit fell 24.1% to Rs 83.40 crore on 0.98% decrease in net sales to Rs 962.70 crore in Q1 June 2019 over Q4 March 2019.
The result was announced after trading hours yesterday, 23 July 2019.
Meanwhile, the S&P BSE Sensex was down by 67.07 points, or 0.18% to 37,915.67.
On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 1354.40 and a low of Rs 1323.20 so far during the day. It hit a 52-week high of Rs 1425 on 3 September 2018 and a 52-week low of Rs 1031.30 on 26 November 2018.
NIIT Technologies' consolidated EBITDA grew by 6.3% to Rs 138.80 crore in Q1 June 2019 over Q1 June 2018. The quarter under review had one-time non-recurring expenses of Rs 23.50 crore translating to a negative impact of 240 bps. Adjusted for that, the EBITDA margin for the quarter stood at 16.9%, an expansion of 103 basis points in Q1 June 2019 over Q1 June 2018.
In constant currency terms, banking and financial services (BFS) expanded 2.8% in Q1 June 2019 over Q4 March 2019 contributing to 16.5% of revenue, travel and transport (TT) was up 5.9% in Q1 June 2019 over Q4 March 2019 contributing to 28.3% of revenue and insurance grew 6.6% in Q1 June 2019 over Q4 March 2019 contributing 29.1% of overall revenues. Others segments collectively grew 1.5% in Q1 June 2019 over Q4 March 2019 and they now represent 27.0% of overall revenues.
Digital revenues grew 46% in Q1 June 2019 over Q1 June 2018 contributing to 34% of the total revenues. Americas, EMEA, APAC and India contributed 49%, 35%, 11% and 5% of the revenue mix.
The company secured fresh business of $175 million during the quarter. The order executable over the next twelve months has also increased to $395 million.
"We registered a good performance in Q1 June 2019 and the fundamentals of the business are strong," said Sudhir Singh, chief executive officer, NIIT Technologies.
NIIT Technologies is a leading global IT solutions organization.
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