Moneycontrol BureauNIIT Technologies has surpasseds analysts' expectations on Friday with second quarter consolidated net profit rising 16.6 percent sequentially to Rs 68.2 crore on strong operational growth.
Consolidated revenue increased by 5.7 percent to Rs 678 crore in the quarter ended September 2015.
“Growth in all international geographies and industry segments of focus resulted in 8 percent sequential growth in international business," Arvind Thakur, CEO and Joint MD, NIIT Technologies said, adding improved international revenue mix contributed to expansion in margins.
Profit was expected to grow 7.35 percent to Rs 62.8 crore and revenue was estimated to increase 5 percent to Rs 673.5 crore, according average of estimates of analysts polled by CNBC-TV18.
Operating profit rose 14.6 percent quarter-on-quarter to Rs 119.4 crore and margin expanded by 970 basis points to 68.2 percent in the quarter gone by.
US business grew 6.2 percent sequentially, contributing 46 percent to overall revenue during the quarter. NII Technologies says, EMEA grew by 5.8 percent, contributing to 35 percent of mix, and revenue share from APAC & India stood at 10 percent & 9 percent, respectively.
Among industry segments, BFSI grew 8.3 percent sequentially due to growth in insurance business in USA and NITL in UK. BFSI contributed 37 percent to total revenue. Travel & transportation business growth was 6.6 percent (37 percent of revenue mix).
Order intake during the quarter was USD 80 million, taking total executable order book to USD 300 million over next 12 months.
At 14:52 hours IST, the scrip of NIIT Technologies was quoting at Rs 472.10, up Rs 9.20, or 1.99 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
