NIIT Tech Q4 net loss at Rs 17.5 cr on exceptional expenses

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26 Aug, 2025 12:21

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Moneycontrol Bureau

NIIT Technologies posted a net loss of Rs 17.5 crore in the quarter ended March 2015 against a profit of Rs 48.2 crore quarter-on-quarter, due to exceptional expenses. The company had to bear an exceptional expense of Rs 80 crore in the January-March quarter.

"A dispute had arisen between one of the company's subsidiaries and its client in the Asia Pacific region as communicated during the quarter. The dispute was resolved by concluding a settlement agreement which released the company of its obligations towards execution of the programme. The financial impact of this one off event during the quarter is Rs 80 crore which is reflected as an exceptional expense," it says in a statement.

However, its consolidated revenues for the quarter grew 2.7 percent sequentially to Rs 611.2 crore from Rs 595.3 crore. The smallcap IT company was expected to report a loss of Rs 14.5 crore for the quarter ended March against profit of Rs 48.2 crore in December quarter, according to a CNBC-TV18 poll.

Revenue was seen flat at Rs 596 crore during January-March quarter compared to Rs 595.3 crore in previous quarter. The company has been struggling with slower top line growth over the last few quarters.

"Robust growth in the US contributed to strong sequential growth during the quarter. Cross currency headwinds in Europe impacted reported revenues .In constant currency, revenues expanded 3.3 percent sequentially," said Arvind Thakur, CEO of the company.

For the full year, its net profit was down 50.5 percent at Rs 114.1 crore but revenue  was up 2.9 percent at Rs 2372.5 crore.

The company substantially increased revenues in Infrastructure Management Services (IMS) which grew by 43 percent. Among geographies the US expanded the most during the year representing 44 percent of revenue mix .

The board recommended Rs 9.50 per equity share as dividend for FY15.

Meanwhile, the company announced its foray into digital integration by signing a definitive agreement with a global BPM specialist, Incessant Technologies to acquire a 51 percent stake.