NIIT Technologies reports 1.2% sequential growth in Q3 FY15

NIIT-Technologies-logoNew Delhi, India, January 14, 2015: NIIT Technologies Limited, a leading global IT solutions organization, has announced its financial results for the quarter ended in December 31, 2014 with a 1.2% sequential increase in revenues to 595.3 Crores. Operating Profits stood at 86.2 Crores, indicating a sequential improvement of 4.9% during the quarter. 

                                      OCT-DEC FY’15 Quarter Performance at a glance

Qtr ended
Dec 31, 2013
Cr

Qtr ended
Dec 31, 2014
Cr

Growth
YoY

Consolidated Revenues

587.3

595.3

1.4%

Operating Profit

95.7

86.2

(9.9%)

Profit After Tax

53.1

48.2

(9.2%)

 

Net Profits grew 20.2% sequentially during the quarter on the back of improved operating margins, higher other income and lower depreciation over the previous quarter.

Operating margins improved by 51 bps sequentially to 14.5% as a result of productivity initiatives”, said Arvind Thakur, CEO and Joint MD of NIIT Technologies Ltd. “In constant currency the company grew 1% sequentially during the quarter”, he added.

The Company experienced healthy expansion in revenues in APAC and India on the back of execution of large orders secured during the year, increasing revenue share from the region to 21%. Americas contributed to 44% and EMEA to 35%.

5 new customers were added during the quarter, 2 in the US and 1 each in EMEA, APAC and India. New customers in the US were in the Insurance and Travel & Transportation segment. EMEA also acquired a new Travel & Transportation client. In APAC we secured a new client in the Manufacturing/Distribution space while in India the client added is in the Insurance space.

109 m USD of new orders were secured during the quarter,” said Sudhir Chaturvedi, COO of NIIT Technologies Ltd. “55% of new business was secured in the US which included a large engagement with an Insurance major”, he added.

In the quarter the Company made strides in the emerging space of Digital Services. 5 responsive regional websites were launched for Air Tahiti. Further, the Company entered into partnerships with new Digital technology players and launched Digital Foresight TM, a predictive analytics solution in the U.S.

“Strong presence in select industry segments and our deep understanding of emerging technologies has positioned us well to lead our clients in Digital Services ”, said Rajendra S. Pawar, Chairman of NIIT Technologies Ltd.

Total headcount stood at 8,059 at the end of the quarter under review.

The Company has also been successfully appraised at People Capability Maturity Model (PCMM) Maturity Level 5 again. The evaluation for all locations in India was based on a thorough analysis of the organization’s people practices which has been more stringent with enhanced focus on the quantitative aspects of HR. Developed by the Software Engineering Institute (SEI) at Carnegie Mellon University in Pittsburgh, USA, PCMM is a maturity framework that focuses on continuously improving the management and development of the human assets of an organization. Level 5 is the highest maturity level in the model.

© Technuter.com News Service

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